Flexible Repayment Remortgages
Flexible repayment remortgages enable the borrower to make overpayments or underpayments. This is a more lax kind of remortgage in where you won't typically get charged penalties if and when you overpay or underpay (every remortgage deal is different so read the small print). You could definitely adjust your budget every month to suit your needs.
Be warned however, that some lenders have a certain limits on how much you can overpay or underpay. On the other hand, if you don't have enough cash to cut it for that month, then you could underpay or just not pay at all. But if you keep underpaying or skipping payments, your mortgage repayment period would be longer.
Some flexible repayment remortgages allow the borrower to borrow back overpayments. So, if you overpaid for the last 6 months and decide to borrow back the accumulated overspend you could do so. But this will of course depend on the remortgage terms and conditions.
You should always think about the future with this kind of remortgage, it can be exceptionally easy to get yourself into a negative repayment state.
You just have discipline in the way you play with your money. You should learn how to budget and think about where your money is going to.
For some it can be a logical way of budgeting their money. If the borrower attains a fixed rate flexible repayment remortgage they won't have to worry about fluctuating interest rates since the rate is fixed, plus it is more lax ed as compared with the other types of remortgage deals.