The mortgage market is nothing short of a mind field. Mortgages should be clear, concise and straight forward – you borrow money from the bank to buy your house, then you pay back interest on the money you have loaned.image of house with for sale sign planted in the garden, relating to mortgages

After initial enquiries though, it soon begins to dawn on you that it’s not as easy as that. In a massive market such as mortgages, it is actually a complex thing, and easy to get lost in what they all offer to you. Banks and building societies are continually altering the range of mortgages that are available to you. The list of mortgages that are available are so extensive, only those with a keen understanding of what is laid out before them, are going to get to terms with it.

The main point of this is, how you repay back the initial capital, and also how to cover the interest on that.

Mortgage providers now have a legal obligation to give customers the key facts contained within a document.

The FSA (Financial Services Authority), the governing body who regulate the mortgages, these documents should be delivered in user friendly terms about how these mortgages are represented.

Mortgagae fees have risen lately so providers then reduce annual rates to bring in new customers. All new customers have to acknowledge they have been presented with these documents before signing off on contracts.

Listed in the next few pages details of such mortgages and free advice;

Interest Only

Capital Repayments

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