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Guide to Offset Mortgage Online Calculators

The Revolution offset mortgage calculator - fast information to ensure you know how much you can borrow, the impact of your savings, and the monthly costs you can expect to pay.

Guide to Offset Mortgage Online Calculators

Offset mortgages are a great way to leverage savings to reduce the cost of buying your home.

In many cases, the Revolution team deals with enquiries from clients who have found indicative rates from an offset mortgage calculator - which might not reflect the rates that are then offered.

Here we'll explain what mortgage calculators are suitable for, how accurately they can calculate your offset mortgage costs and the best way to secure a valid offer. To enquire for access to the latest rates, give us a call on 0330 304 3040 or email Revolution at [email protected].

How Accurate is an Offset Mortgage Calculator?

Offset mortgage calculators are useful to get an idea about whether switching to a different mortgage would be cost-effective, and if it would save you money overall.

Calculators are an excellent first step, but they are only ever indicative since they cannot consider your circumstances.

About Your Mortgage
Single or joint mortgage?
What’s your yearly income?

Error: Yearly income income must be between £1 and £10,000,000.

Do you receive a regular bonus?

Error: Regular bonus must be between £1 and £10,000,000.

Based On Your Yearly Income, You May Be Able To Borrow

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Most lenders will let you borrow 4.5 times your annual salary so, as long as you have a standard 10% deposit, you should be able to borrow this much.

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Depending on your personal circumstances, some lenders may let you borrow 5 times your salary.

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Lenders usually cap the amount they lend at 5.5 times your salary, so it’s unlikely you’ll be able to borrow more than this.

How Can I Use an Offset Mortgage Calculator?

To understand potential costs, you will need to collate a few critical pieces of data:

  • How much you need to borrow - either to buy a new property or refinance an existing mortgage.
  • What your home is worth, or how much the property you wish to buy is valued at.
  • How long you want to borrow for.
  • What sort of repayment type you are interested in - i.e. repayment mortgage or interest-only.
  • Which tax band you fall into.

The calculator uses that information to provide information about potential cost savings and the most competitive product options.

Results usually tell you how much you can shorten your mortgage term by offsetting your savings, and how you could reduce your monthly repayments.

Which Offset Mortgage Calculators are Best?

Lots of lenders and brokers provide calculators as a first step to looking into a potential borrowing product.

However, these can never be entirely accurate. The only way to get real quotes, rates and advice is to speak with an independent broker who can carry out exact calculations for you.

Professional Advice with Offset Mortgages

Choosing an offset mortgage provider isn't as simple as using a calculator; it depends on which lender's eligibility criteria you fit and receiving guidance on the cheapest ways to take out the borrowing you need.

Contact business loan broker on 0330 304 3040, or email us at [email protected] for accurate information, current market rates, and independent advice about the best way to reduce the costs of your mortgage.

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As specialist mortgage brokers for a huge variety of applicants, the whole-of-market consultants at Revolution provide access to an exceptional range of lenders, products and mortgage deals. That means you get the advantage of professional negotiation and broker-exclusives through an established lending network to ensure we always find you the most competitive mortgage available.

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