Mortgages

How can you apply for a mortgage? What do you need to know? Before you start looking at properties, try to get ‘approval in principle’ for a mortgage first so you know how much you can borrow.

If you are paying a mortgage, how much you pay back every month depends on: Your outstanding balance: This is the amount of money you have left to pay Your mortgage term: This is the length of time until you …

There are many reasons why a lender may refuse to give you a mortgage and you can find out the reasons from them.

If you own your home and are over 55, an equity release scheme could allow you to release some of the value of your home without having to make repayments during your lifetime, move out or sell your home on the open market.

Find out about changing your mortgage, including switching mortgages, extending the term, paying extra off your mortgage, trading up or trading down, switching from a subprime mortgage, consolidating debts, mortgage top-up and payment breaks.

Being in arrears on your mortgage means that you have missed some or all of your mortgage repayment. If you can’t meet your mortgage repayments, or you’re worried you might fall behind, you should contact your lender as soon as possible as missing a mortgage repayment could have a negative effect on your credit rating.

Mortgage protection insurance is a life insurance policy that pays off your mortgage if you or your partner die during the term of the mortgage.