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If you take out a loan to purchase a property this is known as a mortgage. This loan will be for a fixed period and you will have to pay interest on this loan. If you do not keep up with the agreed payments, the mortgage lender can take possession of the property.
There are different types of mortgage and it can get confusing deciding which the right mortgage is for you there are many good independent mortgage advisors, it is wise to take advice.
Mortgage Info provides a general awareness service. Advice cannot be offered on individual cases. We make every effort to ensure that the information is correct. However, we cannot guarantee the accuracy of the information provided or that every matter relevant to property law is referred to.