flexible, mortgage uk

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Lenders now offer insurance policies that pay mortgage bills for around a year if you lose your job

Suitability: A pension policy linked mortgage is the most suitable option in a number of circumstances the most common being those identified below: This option is only really suitable for a small minority of people

Mortgage Intermediary A firm, organisation or individual, which helps you to choose a mortgage and introduces mortgage applications to lenders. Mortgage intermediaries are for example, mortgage brokers, estate agents, independent financial advisers, solicitors, accountants and life assurance companies. Their role is to search a range of lenders on your behalf for the best deal. Intermediaries usually receive a fee for arranging the mortgage

Contents insurance can provide cover for all your household contents - furniture, carpets, curtain, pictures TV, hi-fi, personal possessions etc

Whereas, on a mortgage where the interest is being calculated on a daily basis, any over-payment reduces the mortgage balance immediately hence the borrower will be charged less interest from the next day

Irrespective of movements in the interest rate your monthly payments will not change

This is more likely to occur within the first 3-5 years of the mortgage term and more common with discounted, deferred or fixed mortgages

Disadvantages: Holders of a Mini individual savings accounts cannot take out a Maxi, and vice versa

STEP 2 - HOW DO I APPLY? Lending institutions offer you the option of applying for your personal loan either in person at a branch, via a written application, over the telephone or online

Individuals on a tight budget expecting wage increases over the first few years of the mortgage

Unless these payments are guaranteed then as a rule of thumb expect that 50% will be taken into account

Individuals on tight budgets expecting wage increases over the first few years of the mortgage

As a result a lender may restrict the amount they are prepared to advance or place conditions on the advance

Buy To Let Mortgage Buy To Let mortgages are taken out to buy a property for the sole purpose of letting as an investment.

This acts as a ‘lock-in’ making an often heavy charge for borrowers paying off their mortgage early

If you have a mortgage, the lender will insist that you take out this type of policy