Flexible mortgages gathering strength

The lender reports that mortgage brokers are expecting a further 40 per cent growth this year, and flexible mortgages now account for 28 per cent of overall mortgage business.

Rachel Ramsden, head of marketing at Britannic Money, said: "2001 was the year for flexible mortgages, when they really came into their own, with consumers realising the enormous benefits they bring to their individual financial circumstances.

"The sucess story looks set to continue for 2002 when coupled with low interest rates and the current economic climate, it makes good financial sense for borrowers to select a flexible mortgage."