Much has been talked and discussed about the eight letter word called mortgage. It is a topic which can be easy to understand for some, and equally difficult to fathom for some others. First of all, what is a mortgage? Simply put, a mortgage is a loan you can take from a bank to buy a property. It is secured, because in the event of you not being able to pay off your loan, the bank or the lending society can take possession of the property. There are hundreds of people who run companies and banks to grant you mortgages. The mortgage market is pretty big in the UK, and as a person you need to keep track of the latest mortgage news. While paying your loan back, you can choose from repayment mortgages, and interest only mortgages. The problem in the latter is that you only pay off your interest, and you need to find a way to accumulate the principal at the end of the term to end your liability. In repayment mortgages, you pay off a bit of the capital and the interest every time you make a payment. Buy to let mortgages are also quite popular. Here you buy a property and lease it out to other tenants. With a bit of research, your investment can not only pay out your mortgage, but you will also benefit from appreciation in the property rates.