Flexible mortgages have been developed to cope with the sometimes drastic changes that can occur in a borrower's financial circumstances (for example, through job loss). They're branded under many different titles such as 'personal choice mortgages' 'open plan' or 'freedom mortgages'.

The sort of features that these mortgages may offer include the following:

• monthly overpayments (so that you reduce the term and save on interest)
• reducing/stopping payments during times of financial hardship
• payments over ten months rather than 12 months
• payments four weekly (that is, 13 times a year)
• lump sum payments
• cheque books to allow withdrawal of a pre-determined further advance