All mortgages essentially work the same way: You (the borrower) are loaned the money by your chosen lender. A mortgage contract is drawn up with agreed terms and conditions and the property is used as security for the lender. In other words, if you fail to meet the conditions set out in the mortgage contract (specifically in relation to keeping up to date with the loan repayments), the lender may be able to repossess the property. When the loan has been repaid in full, the title (and therefore the ownership) of the property passes to you).

In this section, we take a look at the basics of mortgage loans, including the two major types of loan (fixed rate - FRM and adjustable rate - ARM), along with some handy information for first time buyers. There's a also a look at how arranging a mortgage with points can lower your interest rates and save you money in the long term.

Fixed Rate Mortgages

Adjustable Rate Mortgages (ARMs)

Points

First Time Buyer

Bridging Loans

Remortgages