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Unfortunately, mortgage lenders don’t give their money away for nothing! As with any loan, they make their profit by charging interest.
This is where mortgages become confusing. Lenders do not just offer one rate of interest. In fact, they will more than likely offer several at the same time. What differentiates them, however, are the options offered and the restrictions imposed.
Take time to consider the different interest rate options open to you. As always, there are pros and cons to each, meaning that what is suitable for one person may not be appropriate for another.
For more information please click on the type of mortgage you are interested in: