Free course

Understanding mortgages

Free statement of participation on completion
Understanding mortgages

Understanding mortgages is a free, short course produced in collaboration with MoneySavingExpert.com.

The course explores the mortgage products available in the UK market – their interest rate and other characteristics – and examines the factors involved in making good choices from the product range.

The course explains why and how mortgages can be actively managed by borrowers through such options as overpaying, offsetting and remortgaging.

The course also examines the mortgages from the viewpoint of the lenders, including the factors that affect their decisions about making mortgage advances.

By completing the course you will not only become more knowledgeable about the mortgage market but also more confident about making smart decisions about one of most important areas of personal finance.


The Open University would really appreciate a few minutes of your time to tell us about yourself and your expectations for the course. We welcome your feedback and suggestions to improve the course.

Course learning outcomes

After studying this course, you should be able to:

This course is endorsed by the CPD Standards Office .  It can be used to provide evidence of continuing professional development but is not accredited learning. We are unable to provide formal learner verification services for participation in our open online courses, which are provided freely by The Open University as self-directed CPD.  

Anyone wishing to provide evidence of their enrolment on this course is able to do so by sharing their Activity Record on their OpenLearn Profile, which is available before completion of the course and earning of the Statement of Participation.

Learning outcomes

After completing this course, you should be able to:

  • understand how banks and other lenders like building societies make decisions about providing mortgages
  • know the different types of mortgage products available and the interest rates that apply to them
  • know the benefits in proactively managing your mortgage – for example by periodically moving from one product to another
  • understand the various costs involved in buying property
  • know the risks involved in having a mortgage and how to manage these.

First Published: 21/08/2019

Updated: 14/10/2019