This is known as a loan secured on land or a property. To be more precise, it is actual legal deed setting out the lending terms. A lender can force the sale if the loan conditions are breached.

Our aim is to ensure that you will be well equipped to deal with one the many long-term investments that many people will undertake buying your home (Mortgage). The information given we trust will allow you to make an informed choice when planning for your mortgage now and in the future.

you need to know when buying your home, please use the Navigation Bar there is an A - Z definition guide:

Payment Holiday

Some mortgages may allow you to take a "mortgage holiday" for up to three months. You don't pay anything during this period. But interest is still being charged to your mortgage. This means that unless you increase repayments after the holiday, you will pay more in interest overall. Repayment holidays are best used only as a last resort.