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Flexible mortgage advice from first direct
Tue, 17 Oct 2006
Online bank first direct is aiming to offer a more flexible option for parents looking to find a mortgage.

To pre-empt new government legislation on paternity and maternity leave, first direct is offering prospective parents a flexible mortgage, claiming that it could be a well-timed boost with a little one on the way.

The bank claims that many parents find that they cannot take their full entitlement to leave, as mortgage repayments mean that the option is unviable.

However, by switching to a flexible mortgage parents could find that they are able to manage their finances more effectively and ensure that they are not overstretched at an often expensive time, claims Chris Pilling, the company's chief executive.

"A flexible mortgage puts you in control of the decision to return to work instead of bills making that decision for you," remarked Mr Pilling.

"And as the household income gets back to normal you have the option to overpay with regular or lump sums to ensure you’re back on track."

Offering a wide range of mortgages, first direct also claims to have scooped a What Mortgage award in 2006.

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