Mortgage your home

Buying a property is likely to be the biggest investment you ever make, and whether it’s your first or subsequent purchase, for most people buying a home involves applying for a mortgage.

Most lenders have several different types of mortgage on and offer and so before you approach a lender, ideally you should have an idea of what type of home mortgage you need.

You will need to decide between a repayment mortgage - where the capital and interest is repaid each month, and an interest only mortgage - where you pay interest only to the lender, and put in place a suitable investment vehicle to run alongside the mortgage such as an ISA or pension.

Your home purchase will involve other mortgage fees in addition to the mortgage itself; including a valuation on the property you wish to purchase, mortgage indemnity insurance if you are borrowing more than 90% of the property purchase price, an arrangement fee if you are taking out a fixed rate mortgage, and solicitors charges.