What is a Mortgage?
A mortgage is a sum of money borrowed from a bank or building society in order to purchase a property. The money is then paid back to the Lender over a fixed period of time together with accrued interest. There are many different types of mortgages – an apparently cheap mortgage may not actually be the best option for you. You need to find the best mortgage deal for your personal circumstances, take a look at our guide to finding a cheap mortgage deal.