understanding financial jargon
With a Flexible Mortgage you are allowed to make extra payments when you have extra money available. Extra payments can be lump sum or extra amounts per month. Most flexible mortgages also offer the option of taking a 'payment holiday' by building up a reserve of excess payments. Both these features can help in paying the mortgage off early, or coping with unexpected expenses. A flexible mortgage is usually offered on a daily interest basis, and because you are being offered this flexibility as an extra service you will pay slightly higher rates of interest compared to standard variable rates.
What to do if you need more help
If you need more help with your specific commercial loan, mortgage or insurance requirement please speak to a professional financial adviser.
We hope you found this information useful.
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