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Guide – Flexible Rate Mortgages
While other types of mortgage require borrowers to contribute a fixed amount, plus interest, every month, flexible rate mortgages allow under- or overpayment, and even non-payment. This gives you the freedom to pay less when cash flow is tight and more when extra money becomes available.
With a flexible rate mortgage, there are no redemption charges for early repayment, which can save you thousands of pounds in interest or allow you to switch to a more favourable mortgage at no extra cost.
Flexible rate mortgages are ideal for people with variable incomes that may receive large, lump-sum payments, but who may also run sort of cash from time to time.
However, flexible rate mortgages are only recommended for disciplined borrowers.
The Mortgage Broker – Call us on 0800 822 3355
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The Mortgage Broker are specialists in Flexible Rate Mortgages. Complete the form above and One of our qualified FSA Regulated mortgage brokers will compare to find you the best deal.
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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
*Correct as at 15th January 2008
