Understanding Mortgages: What They Are and How They Work

A mortgage is a loan specifically designed to help people buy property, usually a home.

To secure one, you’ll need to provide an upfront deposit and borrow the remaining amount from a lender, such as a bank or building society. Since the loan is secured against the property, the lender has the right to repossess and sell the home if you’re unable to keep up with your monthly repayments.

Find the Best Rates in Just 60 Seconds

We’ve partnered with RSC New Homes, an independent mortgage advisor, to offer a simple and effective mortgage calculator. In under a minute, you can compare mortgage rates from leading lenders tailored to your personal details.

To get started, you’ll just need to enter the following:

• Mortgage repayment type
• Purpose of the mortgage
• Mortgage term
• Property value
• Desired loan amount

Once submitted, the calculator will generate a range of mortgage options for you to review. Interested in a particular quote? One of RSC’s new build mortgage advisors will be in touch to talk you through your options and help you secure the best deal. They’ll even handle the application process.

Who Can Benefit from Using the Calculator?

The tool is designed to support a range of mortgage needs. Whether you’re:

• A first-time buyer
• Looking to move to a new home
• Interested in remortgaging your current property
• Exploring a buy-to-let investment
• Considering a buy-to-let remortgage

The calculator gives you a clearer picture of the options available, helping you take the next step with confidence.