Episode notes
Understanding Mortgages and Projections for 2025 in the UK
A mortgage is a loan specifically used to purchase property or land. It is typically issued by banks, building societies, or other financial institutions. In exchange for the loan, the lender takes a legal interest in the property, meaning they have the right to repossess it if the borrower fails to repay the loan as agreed. Mortgages are one of the most common ways for individuals to purchase a home, as they allow them to borrow a significant sum of money while repaying it over a long period, often up to 25 years or more.
Looking ahead to 2025, there are several economic factors that will shape the mortgage market in the UK, including interest rates, housing prices, and government policies.
- Interest Rate Trends:
- As of early ...
Keywords
mortgagepropertyfirst time buyer