Mortgage uk
How mortgages in the UK work and the background of UK mortgages.
First is first the definition of a mortgage. A borrower (that’s you or me if your not a bank) uses a mortgage to pledge property (house/land) to the lender as financal security against the debt for the rest of the value of the property (house/land). I have just discoved another word for mortgage which is hypothecation. Means the same thing more or less…You learn something every day..
So that’s what a mortgage is…
Repayment or interest only?
There are really only 2 types of mortgage available in the UK which are Repayment and Interest only. A repayment mortgage means you pay back your debt… An interest only means you solely pay back the interest on your debt. More detail about other type of mortgage can be found here >>
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latest UK mortgage news:
(AFX UK Focus) 2008-05-16 06:41 UK's biggest banks eye 80-90 bln pound in mortgage asset swaps - report (Interactive Investor)
LONDON (Thomson Financial) - The UK's biggest bank...
HSBC says UK mortgage lending jumps after offer (Reuters via Yahoo! Singapore News)
LONDON, May 14 - HSBC , Europe's biggest bank, sai...
HSBC says UK mortgage lending jumps after offer (Reuters via Yahoo! UK & Ireland News)
HSBC , Europe's biggest bank, said its UK mortgage uk...
Investec anticipates 12.5pc slump in UK house prices (Daily Telegraph)
Investec, the South African bank that last year bo...
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