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Because relatively few people have enough ready cash to buy a house, the majority of home owners take out a loan for the purchase.
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Most people cannot afford to pay upfront for a property and therefore take out a loan known as a mortgage.
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This is determined by how much deposit you can put down, and how much you can afford as regular repayments.
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Lenders have developed many different types of mortgages, which offer borrowers different ways to repay.
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