Sorry but i have a question that may sound silly (thanks for people that bother to reply with nice, helpful answer)
Friend asked for advice has a mortgage offset £135,000 has a friend who wants him to keep £160,000 while he goes into rehab (6 months) anyway my friend realises he would pay no interest on mortgage but question is how does it work? does Lloyds take less money from mortgage payment or does the money go into savings? ie. asked me but i cant answer i would imagine money just gets taken off of monthly amount?
Friend asked for advice has a mortgage offset £135,000 has a friend who wants him to keep £160,000 while he goes into rehab (6 months) anyway my friend realises he would pay no interest on mortgage but question is how does it work? does Lloyds take less money from mortgage payment or does the money go into savings? ie. asked me but i cant answer i would imagine money just gets taken off of monthly amount?