Advice 9 ways to save About mortgages Where to get a loan Reduction agencies Applying for a loan About mortgages Mortgage basics explained. We've done the same. There may be extra charges or conditions if you want to borrow a high proportion of the house's value. Except when interest rates change, your repayments are the same over the life of the mortgage.
Some people attach a revolving-credit facility to their mortgage.
This is essentially a large overdraft secured by your house, which you access using a cheque account. You can also use the facility to repay the mortgage faster. The interest rates on revolving-credit facilities are usually the same as normal floating rates. For more information see Mortgage Reduction Agencies and Best Ways to Borrow . Floating-rate mortgages are very flexible.