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A Guide to Mortgages

Here… we’ll explore what a mortgage is and how it works, and the different types of mortgages and repayment options. It’s important you understand this, so you can make an informed decision.

Of course, a Mortgage Expert from AL Mortgage Solutions will be there to guide you every step of the way but this section should give you a better understanding of what to expect. Whilst all this information is helpful, if you would like some advice based on your individual circumstances we’re only a phone call away. Please CONTACT US now on 07412563920 to discuss your options in more detail.

What is a Mortgage?

A mortgage is a sum of money, a lender (typically a bank or building society) lends to a borrower (typically an individual/s) which is then secured against a property. The lender lends the money (with the promise) that the borrower will pay them back plus interest on a monthly basis over the term of the mortgage. Should the borrower stop making repayments the lender has the right to take ownership of the property (this is known as a repossession).


What are the Different Mortgage Types?

There are many different types of mortgages and this section will explore some of the different types available to you. The first thing to understand is the Bank of England base rate. The Bank of England base rate is reviewed monthly and can go up or down depending on the state of the economy. The main measure for this is inflation.

All lenders set their rates based on the Bank of England base rate, so as a result, mortgage rates have been low for quite some time now. This is great news for you because when the rates are low – your payments are too!

The two most popular types of rates are fixed and tracker rates but there are other types you may want to consider depending on your circumstances so it’s always best to get advice on the right product for you.

Mortgage Types

Discover more about the different Mortgage types which AL Mortgage Solutions can offer.

First Time Buyers

For those getting their foot on the property ladder.

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Moving Home

We have some fantastic deals for movers.

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You could save thousands with our exclusive deals.

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Buy to Let

For those wanting to rent out their new property.

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Get your Free Initial Consultation

You can get a Free Initial Consultation with one of our qualified Mortgage Advisors. Just book a callback today!


AL Mortgage Solutions Ltd
54 Sandy Lane, Liverpool, L13 0BT

0151 459 9826