Flexible mortgage

By bringing together your mortgage, current account, savings, loans and credit cards, a flexible mortgage can help you make your money work harder and reduce the amount of interest you pay on your borrowing.

Pay your mortgage off faster with a flexible mortgage

The great theory about a flexible mortgage is that you may be able to pay off your mortgage earlier. By over paying your regular monthly mortgage amount into either your mortgage account, or a linked savings account , you get the to pay off your mortgage early.

Instead of being paid interest on these overpayments, the interest is effectivly taken off you the interest you pay on the mortgage, however the flexibility comes because you still have access to the money you have overpaid, and can usually withdraw it if you need to.

flexible mortgages typically calculate interest daily rather than the more usual monthly or even anual calculations from more traditional mortgages and you gain in two way by overpaying the mortgage instead of putting the same money into a bank or building society account, first the effective interest rate you earn is the same as the interest rate on the mortgage (typically higher that the rate you will earn on a savings account) and secondly because you will not be taked on this interest ( this is even more significant for highter rate tax payers.

Flexible mortgage

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