What's a mortgage?
A mortgage is a loan 'secured' against the value of that home. This means you could lose your home if you don't keep up the mortgage payments.
This section looks at taking out a mortgage to help you buy your home. (You can also use mortgages to pay for home improvements or to cover many other sorts of spending.)
Which sort of mortgage should I take out?
That depends on your personal circumstances and finances. The FSA guide to mortgages (available here in pdf format and also available by post Click Here) explains the options open to you, and how to get advice if you want help in making your decision.
There are basically two types of mortgage:
How much can I borrow?
How long should I borrow for?
What about different types of interest rates?
What happens if I can't keep up the payments?
What insurance will I need?
Will it be difficult to get a mortgage if I've been in debt in the past?
What are CAT standards?
Mortgages and your rights
Below are available pdfs to download which are also available to order from the FSA directly. Click here to order paper copies.
FSA guide to financial advice .pdf, 369KB - 18 pages
FSA guide to making a complaint .pdf, 422KB - 20 pages
Raising money from your home .pdf, 213KB - 16 pages
Mortgages
FSA guide to mortgages .pdf, 444KB - 26 pages February 04
You can afford your mortgage now - but what if? .pdf, 59KB - 2 pages
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Mortgage Forum 