Flexibility within your mortgage
Some mortgages have more built in flexibility than others. In general, the interest rates will be slightly higher for the flexible options. If you are looking to move house in the short to medium term after purchase, many lenders will offer a portable mortgage. In addition it is possible to remortgage your property once any special terms have expired and you are free from early repayment charges.
You may also have more than one type of mortgage on your property. For example, you might have a repayment mortgage on the house and take out an extended, interest-only mortgage to pay for home improvements or a conservatory. The term of the second mortgage can be designed to coincide with the end of the first.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The precise amount will depend on your circumstances and/or amount of borrowing. We will notify you of any costs before any advice is provided.
