MortgagesA mortgage is defined as a loan secured on property or land. There are over 100 lenders in the UK who offer such loans and there are thousands of deals available from those lenders. Loans are available up to 95% of the purchase price or property value (whichever is the lower) and the borrower is required to provide the balance by way of a deposit. This can come from savings, a gift from a relative or in some instances a loan, however, this would be factored into the overall affordability and may mean that you are unable to borrow the amount required to purchase the property. These are just some of the reasons why you should take advice from a professional.