Should I opt for a flexible mortgage?

If you are not going to use the overpayment and underpayment facilities that a flexible mortgage offers you will probably be better off going for a standard product. Fewer deals and offers are attached to flexible mortgages and any that are available tend to be for a shorter period.

What about the allegation that these mortgages are a high-risk product? Certainly there is no escaping the fact that, within limits, a borrower has access through a cash machine or a credit card to lending secured against their house. However, current account mortgages should present no problem to the careful and discerning user of credit.

These mortgages are particularly well suited to the growing numbers of self-employed, temps and those on short-term contracts for whom a 25 year loan with regular monthly payments is not ideal.