Mortgage (Overview)

Most of us do not buy our homes outright for cash - instead we borrow money to do so. There are no shortage of choices when it comes to deciding what "flavour" of mortgage will suit you. The main types are repayment and interest only.

If you're looking for a home loan, you'll see a variety of offers available, including fixed rate, capped and discount schemes, which are sometimes referred to as low start.

You'll also hear references to ISA mortgages, pension mortgages and even LIBOR-linked mortgages.

In legal terms, a mortgage is a deed pledging freehold or leasehold property as security for a loan. The lender advances money and receives certain rights, including the authority to sell the property if repayments are not maintained. Your mortgage offer document sets out the details of the home loan.

Get professional help from a qualified independent mortgage advisor and see how much you could save on your mortgage payments. There's no obligation, just plain good advice.

See also: Financial Services, Mortgages