Flexible Mortgages

Flexible Mortgages

Wouldn’t it be nice to have the flexibility with a mortgage to be able to:

  • Take a payment holiday
  • Pay off lump sums without penalty
  • Borrow at the same rate
  • Save money by linking finances
  • Offset savings against debt
. . . and do it all effortlessly?


Flexible mortgages are an ideal way for people who like to actively manage their mortgage to take  charge.

Being able to overpay a mortgage without penalty can reduce the mortgage term by years. Find out how with our mortgage overpayment calculator.

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Think carefully before securing other debts against
your home. Your home may be repossessed if you do not keep up
repayments on your mortgage.


About Flexible Mortgages

Flexible mortgages are increasingly popular. Many lenders now include one or more flexible offerings in their portfolio.

Some flexible mortgages allow borrowers to vary payments within certain limits making it possible to take a payment “holiday” once or twice a year – many people choose to miss a payment around Christmastime. Borrowers can pay extra when they can afford to, which can help to reduce the mortgage balance and therefore the amount of interest to be paid.

There are even more flexible and sophisticated schemes which can allow borrowers to integrate personal finances and save a lot of money.

“Offset” schemes link the balance of savings and current accounts to the amount owing on the mortgage – meaning that borrowers are only charged interest on the difference between the two. No interest is paid on the credit balances while they are offset, but since the interest earned on savings is less than that paid on mortgage borrowings, the potential savings run into thousands of pounds.

Another advantage is the option to borrow more money at the mortgage rate – for example, for home improvements. This is much cheaper than personal loans or credit cards.

Flexible schemes aren’t all the same and it is important to choose carefully.