Free course

Understanding mortgages

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Understanding mortgages
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Course description

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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:

  • 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

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