What makes a mortgage flexible?

A guide to flexible mortgage features by Furness Building Society

Everything you need to know about flexible mortgage features

Flexible mortgages are simply traditional mortgages with some useful flexible features added on. With flexible mortgage features, you can reap the benefits of adjusting your payments to suit your financial situation. 

This means you can make overpayments, underpayments or take a mortgage holiday at any point during the mortgage term. For this reason, many people opt for a mortgage that has the option to make regular overpayments and therefore pay less interest overall. 

Before you get too carried away, remember that even mortgages with extra flexibility have their limitations. To give you a better idea, we’ve answered the most common questions about flexible mortgage features in this complete guide.

How do flexible mortgage features work?

Flexible mortgage features typically work by allowing you to increase or reduce your monthly repayments throughout your mortgage term. You can even benefit from payment breaks should you ever find yourself in need of some financial wiggle room.

Not all mortgages are the same though, so get acquainted with your mortgage’s terms before making any significant changes.

What are the different flexible features of a mortgage?

What are the different types of flexible-style mortgages?

Who can benefit from flexible mortgage features?

Why aren't all mortgages flexible?

Mortgages at Furness Building Society

To compare your mortgage options here at Furness Building Society, use our handy mortgage finder. You can also get in touch with our team to discuss your options in more detail.

For more general information about mortgages and the home buying process, take a look at our mortgage hub.