A mortgage uses your house as security for a loan. Mortgage rates are normally lower than loan rates and so enable you to borrow money at the most cost effective rates Mortgages are normally available for borrowing over £25,000 - and you can normally repay between 5 and 40 years on a repayment or interest only basis. Mortgages are normally available for any legal purpose including debt consolidation, home improvements or the purchase of other luxury items. Mortgages are available on both residential and investment / Buy to Let / holiday homes etc.
