Mortgage borrowers want flexibility
Published On 3 October 2006
Many mortgage borrowers want flexibility when it comes to choosing the ideal home loan product, claims new research. The study was conducted by UCB Home Loans, a specialist mortgage provider that deals with buy-to-let loans and self-cert mortgages, and involved around 1,400 intermediaries. Results showed that many customers are now looking for a mortgage that will enable them to overpay, underpay and take repayment holidays.
A total of 69 per cent of intermediaries reported that applicants are keen to see such features introduced to tracker mortgages to help them plan their long-term financial future and deal with any unforeseen circumstances.
UCB Home Loans managing director, Keith Astill explained: "Providing borrowers with the option of flexibility with their mortgage has always been an important part of our proposition."
He added: "We recognise that in the buy-to-let and self-cert sectors, both landlords and the self-employed may experience fluctuations in the level of income they receive from one month to another."
