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What is a Flexible Mortgage?
A Flexible mortgage will let you have a combination of these factors:
Make overpayments
Make underpayments
Give payment holidays
Borrow back money against previous overpayments made
Calculate interest on a daily basis
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A flexible mortgage should not apply Early Repayment Charges.
How to save money
If you are sensible with money, the best thing you can do with your flexible mortgage is make continuous overpayments. By making these overpayments it effectively pays your mortgage off prematurely and can save you thousands in future interest payments by doing so. However it's imperitive that interest is calculated on a daily basis so overpayments made are immediately deducted from your mortgage as soon as they are made.
A great advantage of having a mortgage that is flexible is that you are able to borrow back the overpayments you have made should an emergency happen and you need funds quickly. You can even make the decision to halt payments for a few months and take a payment holiday if your cash flow is suffering.
Flexible Mortgage Advantages
A flexible mortgage if used properly can allow you to save thousands of pounds in interest.
If you are self employed or your income is not consistent they can free up your finances giving you more flexibility.
Flexible Mortgage Disadvantages
Flexible mortgages are usually offered with higher interest rates in order to gain the flexibility of the benefits above.
Visit www.aph.org.uk and let us find you a flexible mortgage. | 
