Last month’s Budget has made saving less rewarding. Tax on interest is rising, cash ISA limits are shrinking, and frozen thresholds are pushing more of us into higher tax bands. For those with sizeable cash balances, finding a tax-efficient home for that money is becoming trickier.
One option that has had little attention in recent years is the offset mortgage. It’s a niche product, but the new tax rules may mean more people should consider it.
