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Mortgage Guide: Facts About Mortgages

A mortgage is a loan to buy your home. You borrow money and pay it back with interest over a period of time (the ‘mortgage term’) that you agree with the lender – usually a bank or building society. The loan 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 get back its money.

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This entry was posted on Wednesday, April 1st, 2009 at 4:26 pm and is filed under Mortgage Guides. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS
ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Changes in the exchange rate may increase the sterling equivalent of your debt

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Mortgage Guide: Facts About Mortgages

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