1. Till death us do part
More than one in three UK homes is mortgaged, with mortgage-holders paying an average of £600 a month, much of it in interest.
The word mortgage comes from a French word meaning 'dead pledge'. It's a contract or pledge that becomes 'dead' either when you pay it off and become owner of the property, or when you fail to keep up payments and lose your home. Like a marriage - the word "mortgage'' comes from the same root as ''engaged'' and ''wed'' - it's a contract you shouldn't enter into lightly.
Since the crash in 2008 there have been almost a quarter of a million repossessions. Could you afford the payments if interest rates go up? The average UK mortgage payment is over £7,000 a year. Could you SAVE money by paying more each month? Use the slider in the next step to find out..
2. Mortgage calculator
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Please note: this is a generic model of a repayment mortgage and as such does not constitute financial advice. Lenders offer a variety of mortgages types, with both fixed and variable rates, and some lenders may add extra charges. Always check details with the lender, and consider getting independent financial advice before you go ahead.