Brookhaven Financial does not give advice on Equity Release. We refer Clients to suitably qualified Associates.

Flexible Mortgages

Your home may be repossessed if you do not keep up repayments on your mortgage.

Flexible mortgages recalculate the outstanding capital and interest (the amount you owe) on a daily basis. This allows you to make overpayments when you have money to spare, and see an immediate reduction in your loan.

Some also allow you to make underpayments when finances are tight, which will increase the interest you have to pay in the long term.

They may even allow you to take repayment holidays – a complete break from making payments as long as a reserve amount of money is in your account.

Any unpaid interest will be added to the outstanding mortgage; any overpayment will reduce it. Some flexible mortgages have the facility to draw down additional funds, to a pre-agreed limit.

Flexible Mortgages

Your home may be repossessed if you do not keep up repayments on your mortgage.

Flexible mortgages recalculate the outstanding capital and interest (the amount you owe) on a daily basis. This allows you to make overpayments when you have money to spare, and see an immediate reduction in your loan.

Some also allow you to make underpayments when finances are tight, which will increase the interest you have to pay in the long term.

They may even allow you to take repayment holidays – a complete break from making payments as long as a reserve amount of money is in your account.

Any unpaid interest will be added to the outstanding mortgage; any overpayment will reduce it. Some flexible mortgages have the facility to draw down additional funds, to a pre-agreed limit.

Mortgages

Neil Hindle, 55, had been due to complete on his new home in just 48 hours time when his mortgage provider discovered an old credit card debt from nine years ago after a last-minute check
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Searches for capital raising mortgages continued to dominate in August and September, rising by 18% overall, according to Legal & General.