A mortgage is a loan that enables you to buy your property.

The money you borrow will need to be paid back over a set period of time, usually at least 25 years, and is repaid via monthly payments.

The lender will take your income and outgoings into considerationin order to determine how much money you’re able to borrow.

You’ll need to put down a deposit, which is usually a minimum of 5% of the cost of the property.

Your mortgage is taken out against the property, therefore your home may be repossessed if you don’t meet your mortgage repayments.