Flexible Mortgage

This can take many forms and offers extra features so you can manage your mortgage and the payments more effectively.

The following features are usually available:

Overpayments – Allows you to pay more than your normal monthly payment whenever you choose. Any overpayment can immediately reduce your mortgage balance and so lower your future monthly payments. Or you may want to carry on your monthly payments at the original higher level and so pay off your mortgage more quickly.
Underpayments and Payment Holidays – Once you have built up a ‘credit’ of overpayments, you can reduce or, in some circumstances even stop your mortgage payment at times to suit you. You can do this until the interest charged on the amount outstanding uses up the ‘credit’ of overpayments.

Is it right for me?

Yes – If you’re likely to experience significant variations in your income so you’re able to increase your mortgage payments and would also benefit from being able to reduce, or even stop them for a time.

No – If your monthly income generally remains constant and you’re unlikely to need to vary your regular payments.

Still unsure?

Why not speak to an adviser to see how we can help you find the right mortgage deal.

Alternatively, see an explanation of the Standard variable rate mortgage product.

SOME BUY TO LET MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

THINK CAREFULLY BEFORE SECURING DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE