FLEXIBLE MORTGAGES
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| Many homeowners are now moving over to an Australian
style flexible mortgage which gives you the option to make overpayments
and underpayments as and when you wish. |
With interest calculated on a daily or monthly
basis (as oppossed to the traditional mortgage where interest
is calculated annually) the amount you owe reduces each month.
The savings on a £100,000 capital repayment mortgage with
an interest rate of 7.2% and monthly payments of
£733. 87 amounts to an amazing £4,577. 45. In addition
you would also reduce the term of the mortgage by 9 months! |
| By paying your salary into your flexible mortgage
account each month you can save even more money. As interest is
only calculated on the outstanding loan, less interest is payable
by you! |
| A flexible mortgage is designed for anyone who
wants to maximize returns on spare funds without tying them up
for any period. The flexible nature of the mortgage is ideal for
the self employed whose income isn't spread out evenly over the
year or those who have bonuses or irregular commission payments. |
| Here are some of the Benefits you can enjoy |
| No longer have to be saddled with a mortgage for
25 long years. |
| Do not have to suffer penalties for paying off
your mortgage early. |
| Overpayments - You are able to make overpayments
that are credited immediately. |
| Payment holidays - Once a credit has been built
up from overpayments you can use this to take payment holidays. |
| Banking services - Some lenders give full banking
facilities, this enables you to have your salary paid into the
account with cheque guarantee 'Switch' debit card, cash card and
cheque book, and you can set up direct debits and standing orders. |
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