Flexible banking used to be about opening a savings account with £1, being able to access your money instantly, turn off paper statements and being able to manage your money at any time. Or paying more of your mortgage off and stopping repayments for a short period to pay for holidays or life events.
The last year has seen flexible banking mean so much more, with banking becoming more accessible than ever before. We can access our accounts in branch, directly online across any device. It has never been so easy.
Last year we saw Metro Bank become a market lead offering a direct, customer retention, mortgage switch solution. It was the first solution to ensure a fully automated product switch process, within 10 minutes, enabling a mortgage switch before the end of mortgage incentive term.
At the end of last year Masthaven Bank released a flexible term savings account, giving customers the ability to; open an account in minutes, specify the interest rate, maturity date and initial deposit, with ebanking accessibility.
Lifetime mortgages offers people over the age of 55 with many innovative products to release the equity tied up in their home.
Bridging solutions offers short term loans with a whole myriad of options including holiday periods, bullet repayments, rolled up, quarterly payments, reserve amounts, staged fund releases etc., to meet the specific needs of customers.
There is an expansive variety of innovative banking products available on the market, accounting for everyone’s circumstances, with transparent information available to help customers choose wisely.