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Current
Account Current account mortgages (CAMs) allow you to run all of your finances through a single account for maximum efficiency. The chart below shows the different features offered by each difference current account mortgage (CAM) on the market. All of them allow you to take out a personal loan in conjunction with the CAM. Some let you attach a credit card. With some CAMs the lender insists that you have your salary paid into the CAM. While this may sound prescriptive, it can in fact make good financial sense. All CAMs allow you to effectively make overpayments - that is, pay more per month than you are strictly obliged to do. And this is in effect the best use you can make of a CAM. The more you overpay each month, the quicker you get rid of your debt, and you could potentially save tens of thousands of pounds in future interest payments. Most CAMs also allow you to underpay - usually on condition that you have made sufficient overpayments beforehand. You can usually borrow back overpayments, or simply stop paying for a while and take a payment holiday. CAM lenders will not query your reasons. Contact an independent broker for a free quote
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