|
If you have had your mortgage with the same lender
for a few years there is a good chance that you could
be paying hundreds or even thousands more than you need
to. Nobody enjoys paying the mortgage so why pay more
than you need.
We have put together a guide to understanding the different
types of mortgages available and some useful contacts
to see if you can save money by switching
In simplistic terms a mortgage is just like any other
loan except it is secured on your home i.e. if you do
not keep up with the repayments eventually the lender
could re-possess your home.
There are a number of different type of mortgage and
we will guide you through each of them.
However, before making any decision it is worth getting
advice from a professional. Nothing on this site should
be construed as advice and we take no responsibility
for any action you take based on the information provided.
There are two elements of a mortgage. The first is
the interest, the amount you have to pay for borrowing
the money. Dependent on the type of mortgage you choose
this can vary. The second part is the capital (the amount
you borrowed). Basically on or before the end of your
mortgage you have to pay this back
|
