Who are Flexible Mortgages most suitable for ?
2008 December 29
People who’s income goes up or down due to bonuses or self employed people who get paid bigger amounts throughout the year.
People who expect to make overpayments throughout the term.
People who are in total control of their finances.
When is the best time for a Flexible Mortgage ?
When a persons incomings are bigger than outgoings.
When you expect to be making overpayments.
When a you expect that you may need a drawdown facility in the future.
What to watch for ?
Watch out for high arrangement fees or booking fees.
Be careful that the early redemption charge is suitable and will no hinder any future plans of a home move or remortgage.
Make sure you can afford the payments if interest rates rise.
