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flexible mortgages
 The Flexible Mortgage is one of the most adaptable offered, allowing the borrower more say in how they manage their loan. Based on the simple concept of overpayment, the result is a new style of mortgage providing a range of options and benefits.
It allows you to pay off your mortgage earlier than the usual 25 year term. Whether you do this at times when you receive extra income - such as commission, bonus payments etc. - or on a regular basis, the choice is yours. Any extra payment is deducted at the end of the month from the amount you have borrowed and contributes to a reduction in the amount of interest you have to pay.
You have the ability to draw-down any overpayment. Far from being permanently committed, the overpayments you make are available to use as cash as and when you need them. So, if you prefer, you may use the overpayments to fund large expenses such as a wedding or school fees, or finance a period of 'study' leave or a 'baby' break.
As long as overpayments are not drawn down it is equivalent to gaining interest on savings at the current mortgage rate, with the advantage of no taxation. However you choose to run your Flexible Mortgage, you will always have peace of mind in knowing that your overpayments are readily accessible at any time should you require them.
What are the key benefits?
PAYMENT HOLIDAYS
If you make overpayments on a Flexible Mortgage you will reduce your loan and build up a 'credit' facility. You can use this facility to make reduced payments at a level of your choosing, subject only to the limit of your credit facility. This is especially useful if you have a sudden call on your finances and need to reduce your expenditure temporarily.
MONTHLY CALCULATIONS
Your mortgage balance is recalculated every month to incorporate any overpayments or Draw-Downs made. This means that you quickly receive the benefit of any additional payments, unlike many other mortgages where the calculation is only made once a year.
Contact Unizone for a free evaluation of your situation
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
PLEASE BE AWARE THAT SOME MORTGAGES ARE NOT REGULATED BY THE FSA -
INCLUDES BUY-TO-LETS, COMMERCIAL, OVERSEAS AND SECOND CHARGES
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