Mortgage with flexible repayments.
Flexible mortgages give you greater freedom in your repayments More Fraud Protection - Interenet fraud protection is standard on most credit cards, marbles goes further More
A more recent innovation, these give various benefits which usually include the ability to vary payments in line with your circumstances. They may also allow you to take "payment holidays" and to borrow back any overpayment you may have made.
A mortgage which allows borrowers to make overpayments when they have spare cash. Other features could include the option to reduce or miss payments altogether when times are tight, and to re-borrow any overpayments. Not all flexible mortgages offer all of these features. Often useful for self-employed people whose income varies from one month to the next. The most flexible form of mortgage is a Current Account Mortgage (CAM), which can potentially save you money by linking your current account and mortgage together.
A mortgage that allows the borrower to over- or underpay their monthly bill, generally due to income fluctuation.
A mortgage that will allow flexibility of repayments. Typically, a borrower will be allowed to overpay, underpay, take payment holidays, and in some cases link their current, savings and deposit accounts to the mortgage account, so that the positive balances offset the negative balances. Interest is calculated daily so that any overpayments have an immediate effect on the interest charged.
