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IFAs want benchmark for flexible mortgages

Eighty-one per cent of IFAs believe a proper minimum standard benchmark for flexibility would be useful in helping their clients choose a flexible mortgage, according to research conducted by Sun Bank.

Ninety-six per cent of IFAs believe daily interest calculation and overpayments are key to the flexibility of a flexible mortgage, while 92 per cent believe there should be no redemption penalties for variable rates or overhanging penalties beyond any fixed rate.

Ninety-two per cent think customers should be allowed to make occasional underpayments and the same number think payment holidays should be standard.

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