A mortgage is really nothing more than a specialised type of loan that banks and building societies issue to those who qualify to enable them to buy a house. There are so many mortgages on offer that it has become essential to compare mortgages before coming to a firm decision. It would probably be possible to borrow money in some other way to finance the buying of a house, but mortgages are the easiest way to do so, and have become the accepted standard way.
When you consider buying a house you will probably also have to consider taking out a mortgage. Sometimes the different offers can be confusing and difficult to comprehend. For these reasons you need to carefully compare mortgages.
It is possible to get a 100% mortgage, meaning that you will receive a loan for all the money you need and not have to come up with an agreed deposit amount. This may seem attractive at first, but it is likely that the lender will charge you much more for their services, making this kind of mortgage less attractive than it may first seem.
It is even possible these days to get 120% or even higher mortgages, giving you some money to use over and above what you need for the...
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