We like Offset deals

The mortgage market is a competitive place to be and lenders are continually looking for the next twist (or spin) to set them apart from the crowd. The biggest new twist in recent years has been the introduction of 'offset' deals.

These allow you to put your savings against the amount borrowed and therefore cut the amount of interest you pay, while still giving you access to the savings if necessary. But now the rates are sharpening and wider product choice is creeping in.

Norwich & Peterborough has launched a fixed rate with offset capability and Yorkshire BS is due to do the same next week. The rates are certainly not cheap but as more providers move in, this will surely change.

· Mortgage specialist, London & Country 0800 373300