A mortgage loan is guaranteed by a property. Simply
put, this means that if you can't make the repayments
on your loan the lender can force you to sell your home
so they can get their money back.
The mortgage loan rate is set by the lender, and is
called the standard variable rate (SVR).
Typically you can borrow three to three and a half times
your income, or two and a half to three times the joint
income of you and your partner. These are known as income
multiples.
The amount you can borrow will also depend on the value
of your home. Most lenders will allow you to borrow
up to 95% of the value of a property. Mortgage Loans :
This site is merely
a conduit to financial websites. We do not give
advice or recommendations in respect of any product offered
by any of the companies listed. Any information listed does
not constitute financial advice or a recommendation under
the Financial Services Act 1986. You are advised to take appropriate
professional and legal advice before entering into any binding
contracts.
