What is a mortgage?

A mortgage is a long term loan secured against a property. A mortgage is one of the most popular financial products available on the market.

For most of us, buying our home is the biggest financial decision we will ever make because it's the longest financial commitment we may ever enter into. The good news is that you'll find plenty of help available. It is important to choose the right mortgage and provider. Shop around and ensure that you are getting the help you need.

You can get a mortgage direct from mortgage lenders (i.e. banks, building societies and specialist mortgage lenders), or you can use a mortgage broker. Whatever the level of help you need, always make sure that the firm you're dealing with is on the Financial Regulator's Register and is permitted to sell or advise on mortgages before signing any contract.

There are two main types of mortgage: annuity (repayment mortgage) and interest only mortgage.

Before you register for a borrower account and start requesting mortgage offers you will need to find answers for the following questions:

• How much can I borrow?
• What size mortgage can I afford?
• How long should I borrow for?