egg mortgages:Flexible Options And Other Advantages

2008-03-25 16:04:17

( Financial )



Sure you’ve heard of an egg account or an egg card uk but have you heard of egg mortgages?

With egg mortgages you can start off straight away with lower payments with their discount mortgages. This is ideal for you if you’re finding difficulty balancing your budget for that new home – or just if you need some breathing space for a few years.

There are 5 discount rates you can choose from.

The options are flexible:
- payment holidays
- overpaying
- you can also borrow back the overpayments made.

There could be an arrangement fee and early payment charges.

You can offset your mortgage – out your interest payment and you could own your home sooner with egg mortgages.

Did you know that if you can’t keep up repayments your home could be repossessed?

It’s true – when the national base rate changes – so does your rate. It changes within 28 days by the same amount.

How can you solve this problem with egg mortgages.

You can repay up till 10% of the balance owing any year during early repayment period – and you don’t incur the early repayment charge. After this early repayment period you can repay any amount you like.

Otherwise there is an early repayment charge which is worked out according to the stated percentage of the amount repaid.

Or you can offset the main mortgage with your savings.

Alternatively borrow as much as 95% of the value of your property.

Your interest is worked out ??? – so you save money.

Choose any repayment plan:
- repayment
- interest only
- or mixed.

You can even change your existing mortgage to egg mortgage – or get a new mortgage.

You don’t have to take their word for it – they have already won a prestigious award as a direct lender.

Overpayments / withdrawals / payment breaks
At the end of your discount period make overpayments anytime without charge. You can either pay with lump sums of more than a certain amount or increase your normal monthly repayment. After this you can withdraw your overpayments if you should need them.

What does a 95% loan but no higher lending charge sound like to you?

If you’re buying for the first time or only have a small deposit you won’t be charged a higher lender charge. Neither will you have to pay a higher interest rate!

Choose your repayment dates.

With egg mortgages you have real freedom. Choose a day of the month that is convenient for you to make repayments.


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