Mortgages Explained | What is a Mortgage?
A mortgage is a type of loan that helps people buy a home.
It is a financial agreement between a borrower (the person buying the property) and a lender (usually a bank or building society).
The lender provides the money needed to purchase a property, and in return, the borrower agrees to make regular payments, called mortgage payments, over a specific period usually between 15 and 30 years.
Watch the video to find out what market share is and how to calculate a business's market share.
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00:01 What is a mortgage?
00:31 Mortgage affordability
01:40 What is the lifetime cost of a mortgage?
02:42 Downsides of a mortgage
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