Mortgages

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Choosing the right mortgage for your needs
A mortgage for most people will be the biggest financial commitment they ever make so it is important that you make the right choice. At ....
 
Is an Interest only mortgage for me?
Before we look at the positive and negative aspects of this type of mortgage we need to know how they work.As the name suggests with ....
 
Factors of Personal Loans
A personal loan, or unsecured loan, is a loan that is secured against a borrower’s personal credit rating, not against any personal property. Institutions providing ....
 
Remortgages with Bad Credit
In recent years, more lenders are increasingly offering Bad Credit Remortgages. A UK remortgage with bad credit is when mortgage holders pay off their current ....
 
Offset Mortgages
A relatively new product on the UK mortgage market, an offset mortgage allows borrowers to put all their debts in one place. Customers who take ....
 

Flexible Mortgages

The term Flexible Mortgages is used to describe a relatively modern type of mortgage product, that can be obtained from a number of different lenders (banks or building societies). A flexible mortgage is normally characterised by all or a combination of the following features:

  • Daily interest calculations.

  • The ability to make unlimited or specified overpayments without penalty.

  • The ability to underpay (pay less than full monthly payment) or take payment holidays (have a month off from paying your mortgage).

  • The ability to draw down money (within pre-specified limits) - giving you instant (or rapid) access to the equity available in your property.

  • The ability to offset savings or current account balance(s) against your mortgage, reducing the amount of capital that you pay interest on. This feature can be used to reduce your monthly payments or to shorten your mortgage term

 


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