A mortgage is typically a property presented as collateral to acquire a loan. The property can be a plot, a house, and maybe an entire building. Usually, an Ltd Mortgage Company Services Essex is contacted to find a local lender, a bank, a finance company, an insurance or a credit union based on the value of loan demanded. The broker will fix the deal between the lender and the buyer on an affidavit with all the agreed points. The lender will receive interest on the investment wither monthly, or bi-monthly according to the deal and keep a lien on the property as security unless the loan is returned. There are different types of mortgage deals, however, the following are the majorly used mortgage types for commercial and residential properties. Repayment Mortgage: In this category the borrower, every month steadily pays back the money borrowed, the installments include the interest on the total capital acquired at once. The benefit of this type of mortgage appears when th