This post is brought to you from Money Advice Service
When it comes to finding the right mortgage the jargon and terms involved can be confusing, to say the least. Something we did when it came to owning our first home sought out advice before we sat down to apply so that we had a better understanding of what lenders required.
It’s a good idea to also research the questions that will be asked of you, so you are prepared for anything. Everything you do and your lifestyle will be put in question; your plans for the future, which you might not have even considered yet, what you spend your money on, what you intend to if you are out of work etc. basically, all the fun questions.
The infographic below, courtesy of the Money Advice Service, breaks down the different types of mortgages into clear concise pieces of information, to help get your head around things.
Different types of mortgages – An infographic by the team at the Money Advice Service