Flexible Loan
A flexible loan can be quite desirable as it allows you leeway to manoeuvre within the terms of the loan. Whilst the phrase ‘flexible loan’ is fairly broad in scope, it will generally mean that you are able to pay more back than usual with incurring a fee, or that you can pay back less, and even sometimes take a holiday on repayments for a short while. Any or all of these reasons, which really come down to a measure of relative financial uncertainty (good or bad) in your future, are enough to classify a product as a flexible loan.
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