Home > Mortgages > Reduce my monthly payments

Reduce my monthly payments

Intelligent Finance gives you a choice of how you’d like to take the benefits of an offset mortgage.

Choosing to minimise the amount of interest you pay and using our Lower Payments option with an Intelligent Finance offset mortgage enables you to reduce your monthly payments, which leaves you free to spend your extra cash on whatever you like.

Here’s how it works:

• You offset the money in your Intelligent Finance Savings/Current Account and/or Intelligent Finance ISA against your Intelligent Finance mortgage, which means you pay less interest on your mortgage. Note that you earn no interest on the money in your Savings/Current account
• We automatically adjust your mortgage payments each month, depending on the amount being offset. The more you choose to offset, the lower your monthly payment will be and you could have more money in your pocket each month
• Because you benefit from lower monthly payments, your mortgage balance and term won’t reduce as a result of offsetting.

Is it suitable for me?

This option is well suited to individuals or couples who want to keep their payments as low as possible. And don't forget that you can switch to one of our other mortgage payment options whenever you like.

Perhaps you’re a first time buyer or want to start a family and need to lower your monthly outgoings? Or maybe you’re on maternity leave or would like to retrain? Whatever your changing circumstances, this type of mortgage could be a good option for you.

How does it work on a repayment mortgage?

Your Savings, Current Account and ISAs can all be offset against your mortgage reducing the amount of interest that is paid. The flexibility of moving to the Lower Payments mortgage payment option means that you can take the benefits of offsetting immediately, resulting in a lower monthly payment. You wouldn’t be working towards paying off your mortgage early, but it could be just the flexibility you need when money is a bit tighter.

How does it work on an interest-only mortgage?

Your Savings, Current Account and ISAs can all be offset against your mortgage, reducing the amount of interest that is paid. You also get the benefit of any offsetting immediately reflected in your monthly payment, which enables you to have more to save or spend.

Now try the to see how much money you could save.

Back to top