Independent Advice
A mortgage is a loan you take out to buy your home. It can be for any length of time agreedbetween you and the lender. If you get into difficulties making the payments and get into arrears, the lender can, as a last resort, take backyour home and sell it to get its money back. Remember you are responsible for paying back your mortgage.
In Great Britain, from 31st October 2004, the Financial Services Authority (FSA) regulates most mortgage sales. They regulate financial services and protect your rights. They have numerous information packs and guides to help you choose the right mortgage, which include:
- Step 1: How much you should borrow?
- Step 2: Shop around?
- Step 3: Information or advice?
- Step 4: Which interest rate deal?
- Step 5: Mortgage features
- Step 6: Get the 'keyfacts' about mortgages
- Step 7: How to repay your mortgage
- Step 8: How to repay your mortgage - interest only
- Step 9: What are the fees and costs?
- Step 10: Insurance checklist
- Step 11: You can afford your mortgage now, what if.....?
- Step 12: Review your mortgage
For further info and information packs visit: www.fsa.gov.uk/consumer
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