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As its name suggests, this is a type of mortgage that offers considerably more flexibility than traditional mortgages.
Although specific details vary between Lenders, the core features of Flexible mortgages are:
- Daily or monthly capital rest
- Ability to make overpayments at any point of the loan term without an early repayment charge. In addition, many Flexible mortgages allow borrowers to:
- Defer payment by taking payment holidays
- Drawback overpayments
- Draw down further advances
- Underpay without penalty (often only to the amount of any previous overpayments
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| Types of Mortgages:- |
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