Home owner mortgages

A few years ago the standard mortgage contract was full of small print and penalty clauses should you wish to move your mortgage or repay it early. Today, the market has moved on and mortgages are now increasingly flexible and contain fewer restrictive terms. This new generation of mortgages are called - flexible mortgages.

Generally speaking the better your credit history the more flexible a mortgage deal you will be able to get. It is for this reason that the majority of people with a flexible mortgage tend to have a reasonably good credit history. As a general rule you should try to get as much flexibility in your mortgage deal as possible. You never know your circumstances may change and with a flexible mortgage you are giving yourself more options.

Low Rates
In general, mortgage rates are calculated daily (as apposed to annually). This in effect means that any overpayment that you make will immediately reduce your outstanding balance.

Offset Mortgages
Offset mortgages (also known as Current Account Mortgages) are very much in fashion. This type of mortgage can be of real benefit if you have or are likely to have savings. Any savings you have are deducted from the outstanding balance and you only pay interest on the difference. For example, if you have a mortgage of 200,000 but a current account or savings balance of 30,000 you will only pay interest on 170,000. Over the lifetime of the mortgage this can save you thousands of pounds, even when you take into account any interest you would get on your savings.

We could help find you the most suitable offset mortgage. Simply complete our online enquiry form.

The Mortgage Helpline (UK) Ltd is an appointed representative of Home Of Choice Ltd which is authorised and regulated by the Financial Services Authority. Commercial Mortgages and some Buy to Let mortgages are not regulated by the Financial Services Authority. Your home may be repossessed if you do not keep up repayments on your mortgage.