Woolwich offset mortgages 'make sense'

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Woolwich offset mortgages 'make sense'

A Barclays representative has lauded Woolwich offset mortgages, saying that they make financial sense for people who want to pay off their property in a tax-efficient way.

Laoiseach Lynch, head of mortgage products at Barclays, claimed the end of the tax year is an appropriate time to look at how much a home finance deal is costing and it is logical for people to consider an offset product if they have savings.

She said: "Now is a great time for borrowers to take stock and assess how they can make their mortgages and savings work together to limit the impact of tax and inflation."

Her comments were made after Barclays announced that its range of Woolwich offset deals have had their interest rates cut by 0.5 percentage points.

This week, the firm suggested the difficult economic climate has created a generation of financially responsible 20-somethings, who have an ingrained saving habit.

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