Flexible Mortgage

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)

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