When
buying a home you will need to select which of the various
types of mortgage you want to use.
Listed
below are the main types and then the further variations,
ie the main ways to repay the interest.
There
are really only two main types of mortgage, "Repayment"
or "Interest".
It's the many variations on them which make things seem more complicated than
they have to be.
But
don't worry. It can all be kept fairly simple by quickly learning about the basics
of "Repayment"
and "Interest"
mortgages - which you can do here.
When
choosing a mortgage you may find it easier to eliminate the type of mortgage
you don't want.
This
will help you draw up a shortlist of those you will consider. You can then find
the current best deal for the type of mortgage you want. You'll see how to
do this in the sectionWhere to Find Your Mortgage
In
addition to deciding which of the two
main types of mortgage you want ie , "Repayment"
or "Interest"
you want to consider the type of interest repayment
arrangement to go with. These are your main options: Click
on any heading to read full details
Read
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