Why Take Out a Mortgage?

Why Take Out a Mortgage?

Most people cannot afford to pay up front for a property and therefore take out a loan secured on the property, which is known as a mortgage.

If you want to buy a property that you can let to tenants, you can apply for a buy-to-let mortgage. These tend to be more expensive than standard mortgage arrangements as lenders perceive that the risks are greater.

Further information

For more information about mortgages and regulations, visit the Mortgages Made Clear section on the FSA (Financial Service Authority) website, Money Made Clear.

The Which? website has an interesting article about mortgages.

Find in-depth articles on mortgages and housing on the BBC website.