flexible

STEP THREE:
Sort out your goals. If you want to clear your mortgage as soon as possible (and who doesn’t?) then you should look for some flexible features on your deal. The best ones will let you make extra lump sum or monthly payments at any time to help bring the loan down to size fast. Some, though, will limit the extra payments to up to 10 per cent of your loan amount while you are on a special offer deal like a discount or fix. Offset or current account features help you eat away at a debt in the most painless way possible – you don’t have to actually pay off chunks of your loan, you just leave some extra cash in a linked savings account. For more details on how these work look at www.currentaccountmortgages.co.uk.