Flex Mortgage Range

Products with a rolled-up fixed rate of interestflex-houses

The Flex Mortgage Range is designed for:

  • buy to let clients
  • high net worth*
  • homeowners who want to borrow for business purposes*

* Subject to CCA exemptions, please see lending criteria for further details.

How It Works

There are no monthly payments – so, no cashflow strain.

Instead, at redemption clients will repay the initial loan plus all rolled-up interest calculated using the applicable fixed rate.

All fixed rates are calculated on a case by case basis and will be dependent on a range of factors, such as term and LTV.

Product Overview

Flex Range

Repayment

There are no monthly payments. A fixed rate of interest is set at the outset of the loan. All interest, when compounded monthly, is added to the principal balance. This new principal balance is then used to calculate the next instalment of interest when it is due. At maturity of the loan (or earlier if the borrower wishes), the original principal plus all the accumulated interest and capitalised interest is repayable in a single redemption payment.

Fees

  • Valuation Fee: From £234 – please see our lending criteria for details
  • Telegraphic Transfer Fee: £35
  • Arrangement fee: typically 2% of the loan amount which is deducted from final advanced amount
  • ERCs: Flex 24 – 5% for first 24 months
    Flex 12 – 5% for first 12 months
    Flex 6 – 5% for first 6 months

Eligibility

Available to buy to let clients, high net worth individuals and clients raising capital for business purposes*.

*Subject to CCA exemptions, please see lending criteria for further details.

Important information and risks

The client must repay the loan by the end of term. If the client has not repaid the loan by the end of its term and either does not have sufficient savings or is not able to arrange another mortgage, then they will need to sell their property, which may be repossessed if the loan is not paid when due.