What is a flexible mortgage?
A flexible mortgage is a type of mortgage that could allow you to make overpayments, underpayments and perhaps take payment holidays to suit your financial situation.
If you want a mortgage that works for you, and fits around your unique situation, a flexible mortgage may be a suitable option.
Many people take a flexible mortgage because they allow you to make additional payments to your mortgage and pay less in interest overall.
Which mortgage can I get with flexibility?Lots of schemes are available that advertise themselves as flexible mortgages, however the features they offer do vary from lender to lender. Common features include –
- Payment Holidays
- A reserve account from which you can access overpayments you have made
- Ability to offset savings
Let one of our expert advisers talk you through the various flexible mortgage options that are available.