Managing my financial journey
Managing my financial journey

Start this free course now. Just create an account and sign in. Enrol and complete the course for a free statement of participation or digital badge if available.

3.1.3 The mortgage market – rock-bottom rates

Buying a property, particularly your first property, usually involves taking out a mortgage – a loan secured against the home.

To guide you through what can seem like a maze of mortgages, here’s personal finance expert Jonquil Lowe to explain the six most common types. At the time of writing the rates on mortgage products are, like other forms of borrowing, at historically low rates. The availability of such cheap finance is one reason why house prices have seen such strong growth since 2010.

  • Fixed-rate mortgage
  • Variable-rate mortgage
  • Capped-rate mortgage
  • Offset mortgage
  • Flexible mortgage
  • Shared-ownership mortgage
Download this video clip.Video player: ou_futurelearn_managing_my_journey_vid_1070.mp4
Copy this transcript to the clipboard
Print this transcript
Show transcript|Hide transcript
Interactive feature not available in single page view (see it in standard view).

Take your learning further

Making the decision to study can be a big step, which is why you'll want a trusted University. The Open University has 50 years’ experience delivering flexible learning and 170,000 students are studying with us right now. Take a look at all Open University courses.

If you are new to University-level study, we offer two introductory routes to our qualifications. You could either choose to start with an Access module, or a module which allows you to count your previous learning towards an Open University qualification. Read our guide on Where to take your learning next for more information.

Not ready for formal University study? Then browse over 1000 free courses on OpenLearn and sign up to our newsletter to hear about new free courses as they are released.

Every year, thousands of students decide to study with The Open University. With over 120 qualifications, we’ve got the right course for you.

Request an Open University prospectus371