What is a mortgage?

A mortgage is a loan used to purchase a home. When you buy a house, you'll put down a deposit and then get a mortgage from a bank, building society, or other lender to cover the rest of the cost. The mortgage, with interest, is then paid back in monthly instalments over a specified number of years.

What do I need?

There are many different types of mortgages on offer. The one that is right for you will depend on a variety of things, including your current financial situation. Here at LJ Financial, we will talk you through everything you will need to secure your first home.

There are lots of different types of mortgages available such as:

• Fixed rate mortgages
• Variable rate mortgages
• Offset mortgages
• Repayment mortgages
• Interest Only mortgages
• Part & Part mortgages
• Specialist mortgages inc. Expat, Foreign Nationals and Sharia mortgages

How do I get a mortgage?

Mortgages are available from high-street banks, building societies and specialist lenders. Before you start looking for a property to buy, it makes sense to take advice.

At LJ Financial, we can help you work out how much you’re likely to be able to borrow and give you useful hints and tips that will help you prepare for the mortgage application process. With our whole of market access to all types of mortgages, we know what’s happening in the market and can help you make your mortgage application to the most appropriate lender when the time is right.

As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments.