Quick debt shedder

Yorkshire Bank has launched a mortgage designed for those who want to shed debt as soon as possible.

With the Flexible Payment Mortgage payments can be made weekly or fortnightly as well as monthly, allowing 13 months' payments to be made each year, shortening the life of the loan and reducing total interest paid.

Lump-sum payments can be made at any time without special notification and are credited straight away.

If borrowers have made accelerated payments, they then have the flexibility to reduce payments, if circumstances change, such as one partner taking a career break. The rate is variable, but payments are set for a year at a time.