Current Account Mortgage

The current account mortgage is a very beneficial type of flexible mortgage. In fact, it is a very flexible type of mortgage. Your spending account and your mortgage account will be one and the same. Your earnings will be deposited into this account, you will have credit or debit cards associated with it.

The best thing is, your interest will be calculated daily, based on the account balance that will be deducted from the capital sum which, in turn, is the base of calculation for the interest. So, over time, your interest will be significantly reduced and, in the event that you would need it, you have a cash reserve.

The disadvantage is that you can get carried away and overspend. In extreme cases you can end up with an unpaid capital sum at the end of the mortgage and huge interest costs paid in vain.

You may have a discounted or fixed interest rate, but, as always, for a limited amount of time. This mortgage will only work best for you if you can be a disciplined spender, otherwise you can get into serious trouble.