what is a mortage? please help

A mortgage is a loan taken out to buy property or land.

Most run for 25 years but the term can be shorter or longer.

The loan is ‘secured’ against the value of your home until it’s paid off.

If you can’t keep up your repayments the lender can repossess (take back) your home and sell it so they get their money back.

Answer Link

Rosy67 Rosy67 · Answer 2 · 2018-02-21T21:53:34+01:00

Hi, This is the answer.
.
Mortage is a bank loan.

Loans are when the bank gives you a certain amount of money with interest.

When you get a loan you always have to pay them back the amount of money you were loaned. Plus interest.

Interest is a fee you get charged when you get a loan from a bank.

Interest is always a percentage. The person you are loaning the money from always gets to choose how much interest.

If you need more information please send me a message.

Hope this helps!! Good Luck and God Bless! :)