When you buy a home you generally have to take a loan out from the bank called a mortgage. More often than not these mortgages come with an interest rate that increases the amount of money a person must pay back to the company that lent them the money for the home. With the average term of the loan being thirty years, banks will make a lot of money from your mortgage over the term of the loan. Because the bank wants to protect itself against the possibility of a lender either defaulting on the loan or getting a new mortgage before the loan is paid off, most mortgages are set up to have the bank collect most of the interest that will be paid on the loan during the earliest parts of the loan. This is called amortization. Principal and Interest Every mortgage payment is broken into two different

Home loans have been falling in numbers for almost half a decade now; however, there seem to be some positives on the horizon. Recent figures suggest that the number of loans has returned to reasonably high levels; however, it’s still tough out there. So, let’s take a look at how you can beat the squeeze and get a home loan. Electoral Roll Fraud is a big issue when looking for a mortgage and being on the electoral roll will help you out greatly in such a scenario. Though you may never vote, just register as it will show lenders that you’ve lived at one address for a period and are whom you say you are. Students for instance should stay registered at their parent’s address when at college as it shows stability and that they lived at one address for a long period. PostCodes If your postcode is not correct