Flexible / Offset Mortgages

A Flexible Mortgage has no early repayment charges. This allows you to make unlimited regular or lump sum overpayments which in turn enables you to pay off the mortgage more quickly.

This type of mortgage often appeals to employees that receive a bonus or self-employed applicants where income can fluctuate from month to month.

Another reason could be if you were planning to move house in near future and wanted to avoid a product with early repayment penalties.

An Offset Mortgage allows your savings to offset the amount of interest you pay on your mortgage. This would lower your future mortgage payments or reduce the mortgage term; whichever suits best.

An Offset savings account is linked to your Offset mortgage to reduce the interest you are charged. For example, if you had a £100,000 mortgage and £20,000 savings you would only be charged interest on £80,000 (the difference between the two).