‘Flexx’ products explained with mortgage broker, Deal Direct.

As an independent mortgage broker, Deal Direct answers clients’ questions every day about the different types of mortgages available. Our experts are adept at explaining the potential advantages and disadvantages of each product. This means you can make an informed decision and feel secure in the knowledge that you are applying for a mortgage that fits your requirements exactly.

So, what is a ‘Flexx’ product and how does it differ from the rest?

A ‘Flexx’ product is an alternative to a base rate linked tracker mortgage.

The difference is that the lenders offer variable rates themselves. As they are in control of the rates, rather than linking them to the base rate, as with a tracker, they can afford to stay competitive. Borrower reassurance comes in the form of the lender’s consistency in offering competitive rates, rather than profiteering from hiking them.

Coventry, for example, has introduced a range a ‘flexx for term’ mortgages via broker channels only.

• For up to 65% loan to value, they are offering a variable rate of 1.35%.
• For up to 50% loan to value, the rate has been reduced from 1.39% to 1.25%.

Although these loans have a product fee, they do not include any early redemption charges. For some borrowers, this could represent the ideal mortgage solution.

Coventry is one of many lenders who offer this type of mortgage. Consult with a member of our mortgage team and we’ll use our expertise to guide you through all the possibilities available, to successfully source the best mortgage option for you.

For expert mortgage guidance, consult Deal Direct on 0800 048 8828.