give some details about mortgage?..?

Question by : give some details about mortgage?..?
also about mortgage rate..

Best answer:

Answer by Rocky
Mortgage is a type of loan which is given by bank or the building society. And it should be repaid over a fixed period of time specified by the lender.. importantly the loan security is the property..
The amount payed by the lender depends on mortgage rates which is the standard variable interest rate all mortgage lenders use at the basis for their discounted mortgage rates. This tends to vary according to the Bank of England base rate.

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