• Mortgage loan
• Fixes and adjustable rate mortgage
• Commercial mortgage
• Reverse mortgage
• Graduated payment mortgage
• Wrap around mortgage
• Mortgage by legal charge
• Refinancing
• Bridge financing

If you take out a loan you will initially have two basic options to choose from, either an unsecured or a secured loan.

An unsecured loan is a loan where you don’t have to provide any collateral. For this you need a good credit history as it is more risky for the financial institution you are borrowing from to give you money without having an assurance that they will get it back. An unsecured loan usually has a higher interest rate because of the higher risks.

If you decide to have a secured loan with lower interest rates and favourable conditions you have to provide a collateral for the bank to assure them that you are able to pay back your dues, even if you get ill or suffer a serious injury, that make you unable to work and earn money. Such a collateral can be a property with a value matching the size of the loan. The term mortgage loan, which is nowdays used simply as “mortgage”, is usually used for a loan backed up with a real estate as a collateral. A mortgage usually has a payback period of 10 to 30 years and other restrictions such as prohibition to sell a real estate if it is under a mortgage.