The best flexible mortgage UK is the one that works with the needs of the individual borrower. Flexible mortgages are home loans that allow some deviation from their repayment schedule and allow underpayments, overpayments, repayment holidays and interest charged on a frequent basis. This article will look at each aspect of a flexible mortgage and highlight what makes the best flexible mortgage UK deal.
Overpayments
The vast majority of flexible mortgage borrowers make overpayments on their mortgages. The earlier that you make the extra payments in your mortgage term, the earlier your mortgage will be paid off. Even by making slightly higher monthly repayments will enable you to repay your mortgage loan quicker. For example, on a 70,000 mortgage charged at 6.2%, giving up your weekly large latte at 2.80 and putting that money towards your mortgage instead, would pay off the mortgage 1 year and 5 months early!
Some flexible mortgage lenders state a minimum overpayment of 25 per month and a maximum overpayment of 10% of the outstanding balance on completion.
Overpayments can also be made by lump sum payments on an ad hoc basis.
The best flexible...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
