A flexible mortgage linked to a current account.

These mortgages take the benefits of the flexible mortgage and use the funds held in the current account to offset the interest eg. on a particular day a borrower has a mortgage balance of £50,000 and has £2,000 held in the current account.

The customer is charged mortgage interest on £48,000 i.e. the mortgage balance minus the positive balance held in the current account.

Some of the newer entrants into this sector are also linking savings accounts, credit cards and personal loans into the mix.

For a borrower wanting one home for their finances this is an attractive option.

For more information about Current Account Mortgages, contact one of our independent advisers.