Flexible Mortgages

Mortgages - The Basics

Flexible mortgages have evolved from the traditional UK mortgage model. A flexible mortgage adapts to suit your changing circumstances and has features such as;

  • Overpayments without penalty
  • Borrow back against overpayments
  • Underpayments against overpayments
  • Payment holidays
  • Daily interest calculations

A more recent innovation is the Flexible Offset Mortgage. These mortgages generally have all the standard features of a flexible mortgage plus;

  • Option to have linked current account
  • Option to have linked savings account
  • Any money in these accounts is offset against the mortgage reducing the interest payable.

The overall effect this can have on your total mortgage payment is significant.