Current account mortgage (CAM)
As the name implies, these current account mortgages combine your mortgage and your current account to give you one over all balance. So, if you have £2000 in your current account and a £90,000 mortgage you're basically £88,000 overdrawn. Your debt will then be smallest when your pay cheque comes in but will then go up when you have to make payments on utilities and other expenses. You make a standard repayment each month over a term that you've chosen and the extra money in your account works as an overpayment fund and this means you can, in fact, pay off your mortgage a lot quicker. Any extra savings you have will reduce the balance even more, or you could take advantage of the low interest rate and transfer things like credit cards onto it too.
There always pros and cons to every remortgage. The upside of a CAM is that if you are a person who spends less than they earn every month then you are basically overpaying your mortgage each month and will clear it quicker- and save thousands at the same time. The downside is that you must have very good organisation with these mortgages and you have to think if you can handle being constantly over drawn. The interest rates on CAMs are often a lot higher than a normal deal, and for them to work well you will need to have a lot of income coming into the account each month and have some to spare in the current account to do the payments properly.