Mortgages Unravelled

Mortgages Unravelled: "Terms such as ‘balloon mortgage’, ‘foreclosure’, ‘negative equity’ and ‘100% mortgage’ are used all of the time in the property industry and many of us have to put sole trust into a solicitor/mortgage advisor rather than attempting to comprehend the meaning of such jargon.

Mortgages are technically just a loan with the difference being that it is secured on property, instead of a signed piece of paper. When searching for a property, estate agencies are usually the first port of call either on the phone, over the internet or by fax. Many of these firms provide their own mortgage advisors or financial consultants in order to be able to offer their customers with educated advice about the most suitable mortgage based on individual circumstance." ....