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Nothing less than 100% in sound mortgage adviceMortgage
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When a person wants to purchase a property they require a loan of a large some of money. This is known as a mortgage.
The concept of a mortgage is a bank, building society or specialist lender will provide the finance needed to buy the property outright with the borrower repaying the amount monthly at an agreed figure over a set period of time. Obviously, these three types of lenders are looking to make a profit from your custom so they will charge a rate of interest on the total figure of the mortgage. This means that the borrower will actually pay more than the initial figure required to purchase the desired property.
Example:
A mortgage of £100,000, and an interest rate of 10%, will incur
the borrower to pay an extra payment of £10,000 through the monthly
repayment period.