Flexible Repayment Remortgages

Flexible Remortgages are thought to be ideal for those who require the option of increasing and decreasing the monthly remortgage repayments, with the added ability of reducing the remortgage term or interest payable. One can additionally make Mortgage Overpayments or take payment holidays - conditions will apply.

By making over-payments to the mortgage debt - you can repay your mortgage off earlier than initially expected.

Flexible Remortgages are as their name would suggest. The level of repayments can fluctuate in accordance with the market and your financial circumstances.

Advantages of a Flexible Repayment Remortgage

  • You can often take payment holidays in times of hard-ship
  • A Flexible Remortgage is ideal for those seeking adjustable monthly repayments.
  • Interest is calculated daily, and enables one to benefit immediately from any re-mortgage over-payments.
  • You can make over-payments to help you clear the remortgage debt earlier than usual and potentially save thousands of pounds in remortgage interest.
  • It is quite common after a period of 6 months to arrange a reduction or miss up to 6 monthly payments in any period of 12 consecutive months, up to a maximum of 18 monthly payments, throughout the remortgage term.

NB: Different lenders may alter their flexible remortgage products and conditions will apply.

Disadvantages of a Flexible Repayment Remortgage

  • During payment holidays the interest will continue to accrue throughout the underpayment or payment holiday period, increasing the balance of a flexible remortgage and amount of mortgage interest charged.
  • Flexible repayment remortgages are not a license to make ad-hoc mortgage payments, and can often lure the applicant into a false sense of security.
  • You are typically limited to the number of under payments or repayment holidays that you can make in any one period of time.

Save thousands with a Flexible Remortgage

By clearing your mortgage debt early you can achieve a very rare and equally envied state of financial freedom. Make sure you seek the correct advice before signing on the dotted line.

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