Once you buy a property, you can set-out an earnings deposit with a minimum of 5% of the property’s speed, immediately after which spend the money for remainder using a mortgage out-of a lender otherwise building society.
Possible pay back your own financial when you look at the month-to-month instalments more a set several months of your energy – for example 25, 30 or thirty-five years.
What types of home loan revenue are there?
The main alternative are an attraction-simply mortgage, the place you only pay the attention monthly next pay back brand new contribution you originally lent at the conclusion of the loan title.
You can buy a general writeup on for every single within book with the form of mortgage, or click on the links more than to know about the individual alternatives in detail.
