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Flexible Mortgage

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Clients who take advantage of flexible mortgages find that overpaying their monthly mortgage payment by even a small amount can slash years and thousands of pounds in interest off their mortgage balances.

The Daily Telegraph has published an investigation into the effects of paying more than your mortgage provider asks for - and the results make fascinating reading.

The Telegraph gives an example of a family with a 25-year £100,000 repayment mortgage. If they sacrificed £50 a month - a couple of nights in the pub for many families - and added it to their mortgage payments each month, they would cut more than four years off their mortgage term and save a huge £24,000 in interest.

The newspaper adds, "Topping up their monthly mortgage payments by £100 would see the loan cleared six years and 10 months earlier, and cut more than £39,600 from the interest bill."

The Telegraph says that if borrowers paid a one-off £5,000 lump sum from the£100,000 mortgage above, they would cut two years and nine months from their mortgage term, and save £25,323 in interest - although anyone planning to use a bonus or other windfall in this way should check their mortgage provider's rules before doing so.

Most lenders will now allow its customers to overpay their mortage by up to 10% in any one year, even if you are in an Early Repayment Charge period.Even small overpayments can have a significant effect in reducing the term of your mortgage and by so doing you will be saving hundreds if not thousands of pounds.

Looking for a Mortgage? Talk to Global Mortgages UK Today

Global Mortgages UK advisers are extremely efficient and can help consumers and homeowners to find the best mortgage to consolidate their expensive debts and are always on hand to offer advice on the best way of reducing your monthly outgoings

Global Mortgages UK is bound by the Data Protection Act of 1998, and information provided by you will be held, processed and used by ourselves, professional advisor and any associated companies in servicing our relationship with you, however strict confidentiality will be maintained at all times.

The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.

Global Mortgages UK which is authorised and regulated by the Financial Conduct Authority.

Think carefully before securing other debts against your home.

Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured on it.

See our website for our terms and conditions.

Not all Buy to Let Mortgages are regulated by the Financial Conduct Authority

Adverse Credit - The overall rate for comparison is 9.2% APR. The actual rate available will depend upon your circumstances. Ask for a Mortgage Illustration

Right to Buy Mortgages - The overall rate for comparison is 8.9% APR. The actual rate available will depend upon your circumstances. Ask for a Mortgage Illustration


Global Mortgages UK is entered on the FCA register under reference number 600521.

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