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Interest only.

• This is like a traditional interest only mortgage – where you only pay interest over the term of the mortgage and then repay the capital as one lump sum at the end of the term.
• You can choose to fund a separate investment – such as an ISA – to repay the capital at the end of the term. You can use a new or an existing product, or a mixture of both – an endowment, ISA or PEP are all suitable.
• If you choose to just pay the interest – it’s up to you to make arrangements to repay the capital at the end of the term. Your home could be at risk if you don’t have a suitable plan in place to repay the balance at the end of the agreed term.
• It’s worth regularly checking on the performance of your investments.

Mixed

• You can opt for a mixture of the two options above.
• Repay part of your borrowings gradually over time and fund an investment to repay the rest at a future date.
• This is also an option if you want to increase your borrowings but don’t want to increase your investments or take out any more.

How do I keep on track to repay my borrowings?
There are several ways we help you keep on track to repay your borrowings...

Your repayment guide
When you set up your One Account, you’ll be given your own personal repayment guide to help you repay your borrowings on time and stay within your agreed borrowing limit. The guide will be based on your borrowing term and the repayment method you’ve chosen (capital and interest, interest only or mixed).

Your repayment guide will show you what your One Account balance should be if you want to be on course to repay your borrowings by the end of your term, – it’s a great tool for getting a sense of where you stand. You’ll be able to check the progress of your One Account balance against your repayment guide over the phone, online and on your monthly statement.

Your monthly statement and annual review
As well as giving you all the information you’d expect from your bank statement – from a list of your transactions to a summary of what’s come into and gone out of your account – your One Account statement will also tell you how you’re doing against your repayment guide.

That way you can check each month whether you’re on course to repay your borrowings on time – or even ahead of schedule.

Each year you’ll also be sent a review of your One Account – showing you how your balance has changed over the year and how it compares to your repayment guide.

The One Account flexible mortgage option (re-mortgage) offers you:

		No Arrangement

		No Ties

		Offset Capital

		Special Broker Cashback

		Make over payments and under payments

		Call For Best Offer

	Benefits of using Select Mortgages & Loans • Personal Advice • Comparing other offset or flexible providers products • Sourcing the right product for your needs & wishes

Call us today to get a quote
Tel: 01792 85 00 17

Do I have to transfer my current banking arrangements to the One Account?

No. The One Account does work best if you run all your finances through it – including your day-to-day banking. But if you’re more comfortable leaving your arrangements as they are, that’s fine. You’ll just need to set up a payment to go into your One Account each month to keep you on track to repay the money you’ve borrowed.

The same goes for the rest of your finances. If you don’t want to bring your loans and credit card balances across – or you’d prefer to keep your savings where they are – that’s up to you.

What happens if I lose my job or fall ill?

It’s important to be prepared should you suffer an accident or serious illness. If you don’t already have health cover we strongly recommend you look into arranging some.

The same goes for unemployment insurance – there are a number of conditions attached to claiming benefit should you lose your job. For example, you’re unlikely to get any help with your mortgage payments for the first 9 months of your claim and any benefit only covers the interest on the first £100,000 of your mortgage.

We also strongly recommend that you have enough life insurance to cover your borrowing facility at all times.

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Source RBS 'How the One Account works all your questions answered'

All loans subject to status. PLEASE THINK CAREFULLY BEFORE SECURING MORE DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT.

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Flexible Mortgage Broker is a Website of Select Mortgages and Loans.  Adverse Enquiries will be passed to Sunflower Loans.