a mortgage offering a number of flexible features, possibly including penalty-free lump-sum and regular overpayments, underpayments, payment holidays and drawdowns, as well as daily calculation of interest.

where the borrower can under-pay or over-pay on the mortgage without incurring charges.

A mortgage which allows you to change the amount you pay each month, or how often you pay (subject to certain restrictions).

The crux of a flexible mortgage is that interest should be calculated daily. The lender may allow you to make extra loan repayments, to underpay, or to suspend payments for a certain amount of time or to borrow additional monies. The best flexibles also allow you to offset monies held in other linked accounts, to reduce the amount of interest you pay.

Mortgages based upon an agreement where you can increase or decrease the mortgage or stop the payment temporarily; depending upon on your present circumstances .

A mortgage which allows the borrower to make overpayments, underpayments and even take payment holidays.

a home loan that allows borrowers to vary their monthly repayments in line with changing financial circumstances

a loan which allow you to increase or decrease the size of your repayments within certain limits

a mortgage home mortgage that can be tailored to your home mortgage cash flow needs, they allow you to home mortgage pay lump sums, take payment holidays, home mortgage reduce your payments and increase your home mortgage payments

a type of repayment mortgage which should give you the capability of increasing your monthly repayments, perhaps as your income increases, or make lump sum payments without penalty

This is a mortgage that allows you to vary your monthly repayments. The advantage is that, if you have extra money, you can pay your mortgage off early and so reduce its cost. Also you can put payments on hold if times are lean. In exchange for this flexibility the loans usually charge more interest.

This type of mortgage allows flexibility of repayments. Normally, a borrower will be allowed to overpay, underpay, take payment holidays. You can sometimes offset savings against the mortgage to help with payments. Certain flexible mortgages will offer daily interest rates so any overpayment will show benefits straight away.

This is a type of mortgage where the interest rate is variable, however it is calculated daily instead of annually therefore, every payment made affects the interest charged on the outstanding balance.

Allows a borrower to both under pay or over pay a mortgage without incurring charges, as agreed in the terms.

To be labelled Flexible, a mortgage needs to have most of the following facilities; daily interest, payment holidays, draw down, under/over payments and tracking the base rate.

An arrangement enabling the mortgage borrower to overpay, and with the overpayments that have been built up, borrow money back, take payment holidays or pay less in some months.

See Current account mortgage.

A type of mortgage where you can make extra payments and even under payments without paying a charge or penalty.

The main feature of a flexible mortgage is the facility to make extra payments when you have extra money. You may also be able to reduce monthly repayments or even take repayment holidays, although you will normally have to build up a reserve through making overpayments before this arrangement is allowed. Such mortgages are usually offered on a daily interest basis. Flexible mortgages usually provide a loan drawdown facility that allows you to borrow extra funds at a set predetermined rate.

A mortgage that allows you to borrow up to an agreed amount, so that you can increase or decrease the mortgage depending on your circumstances, or sometimes temporarily stop making payments altogether.

See Types of Mortgage - Flexible Mortgage

Allows payments to change from month to month, according to temporary changes in the buyer's circumstances. Payments can be increased without penalty or can be temporarily reduced (as long as overpayment has previously been made). It is even possible to withdraw cash when extra funds are needed.

(Type of mortgage - see types of mortgage for detailed definition)

A mortgage which allows you to make larger payments than agreed (when you have extra cash) or smaller payments (when cash is short) without incurring any penalties.

Generally, this describes a mortgage that offers a bit of flexibility over how you pay it off, although some product restrictions may apply. A flexible mortgage could allow you to pay off your mortgage early or make overpayments, for example.

This type of mortgage is relatively new. The interest rate is variable but has the big advantage that it is calculated daily instead of annually. This means that any capital repayment of the loan will affect the interest charged on the outstanding balance immediately. By making regular overpayments, the interest saved on the mortgage over the term can be quite significant. Also, most lenders will allow funds to be drawn from the account up to the original mortgage balance or even allow payment holidays.

This type of mortgage allows the borrower to make over- or under payments, or even take a payment holiday.

As its name suggests, this is a type of mortgage that offers considerably more flexibility than traditional mortgages. Although specific details vary between Lenders, the core features of Flexible mortgages are: - daily or monthly capital rest - ability to make overpayments at any point of the loan term without an early repayment charge In addition, many Flexible mortgages allow borrowers to: - defer payment by taking payment holidays - drawback overpayments - drawdown further advances - underpay without penalty (often only to the amount of any previous overpayments)

A mortgage arrangement with flexible terms permitting payment holidays, lump sum payments at any time, variations in regular repayments and interest calculated on the outstanding daily balance.

As its name suggests, this is a type of mortgage that offers considerably more flexibility than traditional mortgages. Typical interest rates are often not as keenly priced as a standard mortgage. This type of product is usually for the more financially astute client. Although specific details vary between Lenders, the core features of Flexible mortgages are: daily or monthly capital rest ability to make overpayments at any point of the loan term without an early repayment charge

A feature of some mortgages that gives you freedom to change the amount and frequency of your mortgage payments.

This type of mortgage offers a range of flexible options including overpayments, underpayments and payment holidays (subject to the lender's terms and conditions).

Another name for a current account mortgage.

a mortgage that allows you to make overpayments and underpayments on the mortgage without penalty, and, in some cases, to take payment holidays.

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 flexible mortgage allows you to make overpayments and take payment holidays. These can be especially attractive for self-employed borrowers whose income may fluctuate throughout the year.

Mortgage Glossary

Is a mortgage product, which provides the customer with flexible benefits such as payment holidays, the facility to make over and under payments or combination with a current account

Our Flexible Mortgage offers a more flexible way of repaying your loan, including the ability to make overpayments when you want. You can use your overpayments to reduce the term of the loan or ask for overpayments to be refunded at a later date. Alternatively, you can use your overpayments to fund a payment holiday (we use your overpayments to fund the capital payments you would normally make and to cover the interest charged during the payment holiday).

A mortgage that allows the customer to vary the amount and frequency of their repayments. Such mortgages often offer complete payment breaks.

A mortgage where the lender arranges a credit line which grants the home owner the opportunity of borrowing against the built up equity in the property. These mortgages can also sometimes offset any savings or other borrowing against the mortgage, all under the one mortgage rate.

becoming more popular, a flexible mortgage lets you make repayments on a flexible basis, so if you pay more now, you could pay less later if you find yourself having any financial problems.

The term flexible mortgage refers to a UK residential mortgage that offers flexibility in the requirements to make monthly repayments.