Case Study 2

Mr B is self-employed whose business enjoys regular surplus income. His other priority was to fund effectively for his tax bills. Hallidays Independent Mortgage Consultants arranged an Offset mortgage where a savings plan runs alongside the mortgage account. Mr B was able to direct his surplus income and fund for his tax bills by putting the funds into his Offset Account. By electing to take no interest on the savings account the balance was used to Offset against the mortgage, thus enabling Mr B to pay off his mortgage quicker than planned and save interest that he would have ordinarily paid on his mortgage. Furthermore, there were no tax implications on his savings as no interest was paid on the savings account. The savings account was instant access so he could use these funds to pay his tax bills.

I entered the Buy to Let Market a couple of years ago and Hallidays Independent Mortgage Consultants have assisted me with the provision of top quality advice and mortgage products.

Philip Mackie, Director, A1 Cad and Stationery Services Ltd