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Taking payment holidays where you have previously overpaid your mortgage can be another benefit linked to this type of mortgage. But remember if you reduce your repayments or take payment holidays the amount of your loan will not be reducing as quickly, so you could end up paying more in interest charges over the term of the mortgage. Low fee remortgage packages can be obtained from a number of mortgage lenders who offer Current Account Mortgages. You could end up not having to ‘fork out’ for a mortgage property survey or mortgage arrangement fee or conveyancing fees (Solicitors fees).

It is interesting to note that the first lender who offered a Current Account Mortgage, namely Virgin, no longer offer UK mortgages. It would be easy to come to the conclusion that something must have gone dreadfully wrong for the mighty Virgin to be no more in the UK mortgage market. But the One Account (Current Account Mortgage) still lives on but this is now the work of the very successful Royal Bank of Scotland.