How mortgages work
This content applies to England only.
Housing laws vary between England and Scotland. Get advice relating to Scotland
This section explains the different repayment and interest options that are available for people who need a mortgage. It also gives information about joint mortgages, mortgage protection and government standards on charges, access and terms.
Repayment options
The first choice is between a repayment mortgage and an interest-only mortgage.
Interest options
Interest rates can work in many different ways and there are several different options for the repayment of interest depending on your type of mortgage.
Joint mortgages
How much you can borrow will depend on both your incomes. You need to think carefully.
CAT standards
These are mortgage standards set by the Government. CAT stands for charges, access and terms.
Shariah mortgages
Shari'ah mortgages are designed to comply with Islamic religious law. They do not involve any interest payments, as these are not allowed.
