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The consumer today requires greater flexibility from
their mortgage arrangement, which is why we've seen
a significant increase during the last few years in
the number of new-style schemes known as 'flexible
mortgages'.
Increased choice
If you opt for one of the current account mortgages,
you can even combine your savings and mortgage all
in one. Interest is typically calculated on a daily
basis and you have the option to take payment holidays,
to overpay or underpay, and to make lump sum withdrawals,
in some cases by means of a cash card.
Flexible mortgages can also offer the convenience
of instant credit, if you are eligible, and the chance
to pay off your home debt early, so they can be of
great advantage to the more financially astute borrower.
The Financial Services Authority does not regulate
mortgages. YOUR HOME IS AT RISK IF YOU DO NOT KEEP
UP REPAYMENTS ON A MORTGAGE OR OTHER LOANS SECURED
ON IT. Written quotations available on request, loans
subject to status. Insurance may be required.
Article date August
2003
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