Mortgages

What is a Mortgage?

A mortgage is where a charge is taken out over a property, with the beneficial interest being transferred to a lender, as security for a loan or other borrowings.

This gives the lender the right to take ownership of the property in the event of default on the loan repayments.

For most people, a mortgage is a way to raise the money necessary to purchase a home. The bank will take a charge over the property to protect its investment, and will receive interest payments (often accompanied by capital repayments).

There are a wide variety of different types of mortgages, offered by many financial institutions. You can therefore rest assured that there is a mortgage suitable for your needs. Below we provide a list of the common types of mortgages. More information on each type can be found on our Types of Mortgages page.

Types of Mortgages

• Fixed Rate Mortgages
• Tracker Rate Mortgages
• Variable Rate Mortgages
• First Time Buyer Mortgages
• Buy-to-Let Mortgages
• Interest Only Mortgages
• Repayment Mortgages