Mortgages & Money   Mortgage Guide

Flexible mortgages

A new kind of mortgage, designed to give you more control over your repayments. You have the option of paying more, for example if you receive a lump sum and want to invest it in your mortgage. Alternatively you can reduce your monthly payments for a period, or even take a holiday from paying them if your circumstances suddenly change.

Pros:

  • Useful if you anticipate having an erratic income
  • Offers greater control over your finances
  • Interest rate may be lower than the SVR, or there may be discounts for a limited period

Cons:

  • Check for hidden clauses in the mortgage that may not be as flexible as they appear

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