Why Should You Get Flexible Mortgage?
A flexible mortgage is a unique for of mortgage that is offered by Intelligent Finance, an internet only bank based out of Scotland. The mortgages they offer are much more flexible, as the name suggests, and cheaper as compared to normal mortgages.
After Intelligent Finance review your financials and finalize a mortgage package, you have the flexibility of paying more or less than the monthly payments every month. This is a service that almost no other mortgage has, and is great because you don’t have to pay a penalty on the underpayments either. Additionally, you can also borrow back money from any overpayments you have made previously, as well as schedule a payment holiday where you don’t have to make payments for a few months to help you financially become more secure, or go through a tough financial patch.
Another kind of mortgage they offer is offset mortgage where the interest you are charged is calculated based on not your total mortgage owed, but on your mortgage owed minus the amount of money you have in your bank account, which can be either current or savings. There is no required minimum you must have in your bank for the offset to happen, the amount can be very little or very high, and can also vary over months.