Speak to one of our mortgage advisers to find the most suitable deal from our comprehensive panel of lenders.
A mortgage is a long term loan secured on a property, which means that if you fail to keep up the repayments on the mortgage the lender could take back your home and sell it to repay what you owe.
Most mortgages run for 25 years but the term can be shorter or longer. There are many flexible mortgages available which allow for either early repayment or even an extension of the loan period.
You can get a mortgage from a bank, building society or a specialist mortgage lender. Before they agree to lend, they will check thoroughly that you can afford the monthly mortgage payments and that the property is worth the amount you want to borrow.
A mortgage has two parts:
- the capital, which is the money you borrow, and
- the interest, which is the charge made by the lender until the loan is paid back
You can apply for a mortgage direct from a lender, such as a bank, building society or specialist mortgage lender. These providers can only give you a mortgage from their own product range.
If you want to make the most of your money you’ll need to have done your research first. You can make a decision based on information from the internet. newspapers or elsewhere.
Alternatively use a mortgage broker who can compare different mortgages available to you and will also have access to some lenders who do not offer mortgages direct to customers. In that way you ensure you have a wide choice.