Free preview
A mortgage is a loan secured against a property, normally repaid through monthly payments over an agreed term.
If a home costs £250,000 and you provide a £25,000 deposit, you may need a £225,000 mortgage to fund the rest.
Morrow+
Continue this lesson with Morrow+
Unlock the full lesson, quiz, saved score and every future premium learning pathway.
See Morrow+ plans