If you do not feel like you control your own finances and feel like they are in control of you then you need to invest in a mortgage where you are the boss and you call the shots, every month.

It’s a common dilemma to be in – more than half of Britons aged 35 and 45 do not feel fully in control of their finances, according to a new survey commissioned by F&C Investments.

The study found that overall, just under 50% said they felt in control of their finances, with a little over 36% saying they felt a degree of control and 14% saying they did not feel at all in control.

Almost a third of respondents with borrowings were either a little worried about their level of debt or were actually finding it hard to keep up repayments. However, nationwide more than half of respondents had either no borrowings at all, or none apart from their mortgage. Interestingly, almost a third have enough ‘rainy day’ cash on deposit to fund several months’ outgoings.

Scott Stevens, head of global wholesale and marketing at F&C Investments, says: “While some of the results of this survey are encouraging, there is a real need for people in this age group to sort their financial lives out.”

With a flexible offset mortgage, the ball is always in your court. You can decide how much you can afford to save each month, how much to pay and how much money you need to take from your property. Of course, you have to work within the guidelines of the mortgage and within the advice of a good mortgage adviser, but a flexible mortgage does what it says on the tin – it fits around you.

So take control of your finances – make sure you are the boss of your debt, your savings and your outgoings each month by tailoring a flexible offset mortgage around your needs.

SOURCE: F&C, 18/02/10

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