Flexible Features frequently asked questions

How do I apply for a payment holiday or underpayment?

What is the maximum number of payment holidays/underpayments allowed in a year?

What methods of payment are acceptable?

Is there a maximum number of overpayments I can make?

Do I get the benefit of the overpayment straight away?

How much notice do I need to provide if I want to take an underpayment or payment holiday?

Are these features portable?

How do I apply for a payment holiday or underpayment?

You can download a copy of the Flexible Options Request Form or contact 01752 236500.

What is the maximum number of payment holidays/underpayments allowed in a year?

A maximum of 6 underpayments/payment holidays are permitted in a period of 12 consecutive months. The 6 months can either be payment holidays, underpayments or a combination of both.

What methods of payment are acceptable?

Our available methods of payment are by debit card or cheque. Credit card payments are not acceptable.

Is there a maximum number of overpayments I can make?

During the early repayment charge period, an early repayment charge will be incurred if the net overpayments made in a year exceed £12,000 or 10% (whichever is higher) of the mortgage balance at the latest anniversary.

Do I get the benefit of the overpayment straight away?

Yes (or as soon as the funds clear in cases where payment is made by cheque).

How much notice do I need to provide if I want to take an underpayment or payment holiday?

You will need to provide 14 days notice when requesting an underpayment or payment holiday.

Are these features portable?

We currently do not offer portability on any of our products.