FLEXIBLE MORTGAGE & FLEXIBLE REMORTGAGES

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Jargon Buster

 

Flexible mortgages and remortgages can save you thousands of pounds in interest payments, during the life of your mortgage. With the facility to overpay, link current accounts to "offset" interest, take payment breaks and borrow amounts based on ability to pay, not on income multiples - it's no wonder they are fast becoming so popular.
Most of the UK lenders flexible mortgages calculate the interest due on a daily basis. This means that any overpayments reduce the interest due immediately, unlike annually applied changes.
With "decisions in principle" now available over the phone or internet, you can get a flexible mortgage agreed in minutes.

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and send your details for a mortgage quote to be e-mailed back to your computer for printing off - it's free.

IF YOU LIKE THE QUOTE, WE CAN ARRANGE IT FOR YOU

What is a Flexible Mortgage?

There are various types of mortgage available which give the borrower increased flexibility compared to traditional types of mortgage. The most important feature of flexible mortgages is that the borrower is allowed to alter  their mortgage payments, e.g. by making overpayments when they have more available income. This can lead to earlier repayment when compared to a regular monthly amount, which can save thousands of pounds of interest. With a flexible mortgage payment holidays can also be taken when money is not so readily available.

What are the benefits of a Flexible Mortgage?

Some flexible mortgages operate as both a current account and a mortgage account. The advantage of a flexible mortgage is that all money is controlled within one account and savings can be used to offset the debt. With flexible mortgages interest is only paid on the balance outstanding at the end of each day, leading to less overall interest payments.


 

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