What is a mortgage?

A mortgage is a loan used to buy a property, where the amount you borrow, plus interest, is secured against the value of the property. You’ll then have to make monthly payments, including interest, until the loan has been paid back in full.

To qualify for a mortgage, you’ll be expected to make a deposit on the property. This is usually a minimum of 10% of the property’s value, although 95% mortgages are available. The larger your deposit, the less you need to borrow, which will make your mortgage cheaper.

And if you are looking to buy a property, then you can never be to right to talk to a mortage loan company in Uk. They will help you with not just low interest rate but also to make the right decisions.