Flexible Mortgages

Wouldn't you love the flexibility to

Take a payment holiday  

Pay more when you can afford to

Borrow at your mortgage rate  

Save money by linking finances

Offset savings against debt

. . . and do it all effortlessly?

Flexible mortgages are increasingly popular.    Many lenders now include one or more flexible offerings in their portfolio.

Some flexible mortgages allow you to vary payments within certain limits, so, for example, you could choose to take a payment "holiday" once or twice a year - many people choose to miss a payment around Christmas time.  You are able to pay extra when you can afford to, which can help to reduce the principal owing and therefore the amount of interest to be paid.

There are even more flexible and sophisticated schemes which can allow you to integrate much of your personal finances and save a lot of money.

Offset Mortgages

"Offset" schemes link the balance of savings and current accounts to the amount owing on the mortgage - meaning that you're only charged interest on the difference between the two.  You don't get interest on the credit balances while they are offset, but since the interest earned on savings is less than that paid on mortgage borrowings, the potential savings run into thousands of pounds.

Another advantage is the option to borrow more money at the mortgage rate - for example, for home improvements.  This is much cheaper than personal loans or credit cards.

Choose Carefully

But flexible schemes aren't all the same.  You need to choose carefully.  To discuss flexible mortgages and find out which would be best for you, call us now on 0845 094 0933 or submit an enquiry here.