Flexi Loan
With a SBS Bank Flexi Loan you can have a proportion of the loan as a flexi loan. You reduce your regular outgoings by only paying the interest on your loan to start with. The loan repayments are attached to our floating rate. As long as you still own your home it's like an account overdraft with an approved credit limit that's secured by the mortgage over your property. You can borrow up to your agreed limit and make repayments as often as you like. Interest is only charged on the amount you actually use. There are no extra fees for withdrawals and no charges for unused funds.
The benefits are:
- Each month you only need to pay the interest charged on your loan. Yet you can make principle repayments whenever you choose, of however much you choose.
- You're as close as a phone to your funds. Simply call and have money transferred from your flexi loan to your bank account. How you spend your money is up to you.
- You may be able to consolidate all your borrowings into one loan rather than using a mortgage for some things, hire purchase for others and a credit card for the rest.
The best idea is to talk through your choices with us. After all we've been helping people into their homes and properties since 1869.
Download an application form (142KB PDF)
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