If you have some doubts on what is mortgage and what are all those jargons, make sure to check out BBC News on a basic guide to get started. It has some quick terms explaination, and also top 10 key points you should enquiry about when agreeing a motgage with a lender:
Mortgages should be straightforward – you borrow money to buy a house and pay interest on the loan.
But after a few enquiries, you soon realise that it’s not so simple after all.
In a hugely competitive market, building societies and banks are continually updating and extending their range of mortgages. The list is already extensive enough to baffle all but the most determined.
The most important points are how you pay back the capital you borrow and how you pay the interest on it.
A guide through the mortgage maze – [BBC News]
