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What is a mortgage?
A mortgage is like any other kind of loan – you borrow money, and you pay it back with interest over a period of time. But it has one key difference: a mortgage is secured against your home. So if for any reason you can’t repay it, the bank or building society can sell your home to recover their money. How mortgages work You take out a loan based on how much you can afford and the value of the property, for a length of time agreed between you and the lender. You are charged interest on the loan, usually based on the Bank of England base rate which is reviewed monthly.
You pay the mortgage back in one of two ways, repayment or interest-only– see
types of mortgage.
You can choose different deals for your interest rate, such as fixed, variable, tracker or discounted. See
interest rates.
Related pages:
mortgages
,
bad credit mortgage
,
cheap mortgage
,
fixed rate mortgage
,
mortgage exit fees
,
mortgage interest rate types
,
mortgage lenders
,
mortgage loan
,
mortgage quote
,
mortgage types
,
remortgages
,
UK mortgage
.
Burtplan Personal Finance
Applying for
loans, mortgages and
remortgages could not be easier: Burtplan Personal Finance have a no hassle promise and will help you take control of your
Personal Finances today!
As a major
UK loan broker we only get paid if we get your loan paid out. Therefore we do everything we can to get your loan paid out as
quickly as possible at the
best loan interest rates and
monthly repayments to suit your circumstances.
Apply for a personal secured loan or homeowner loan quotation.
Burtplan Personal Finance will
compare secured loans, personal loans and remortgages to suit your circumstances while achieving the
lowest interest rates available from the leading UK Personal Finance Lenders. We also offer
business and commercial mortgages. Apply here for a
commercial mortgage. Apply here for a
unsecured personal loan. THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
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