Mortgages

This is normally the biggest debt anyone has - and is often one of the ways where you can save the most money!

• Remember you don't have to stay with your mortgage provider for 25 years! - it can pay to shop around.
• Visit a mortgage finder service to find out how mortgages compare from lots of different providers.

How do I get a mortgage?

You can get a mortgage from banks, building societies, and even online through mortgage finder sites. You can also contact an independent financial adviser for help on different mortgages.

Visit our mortgages section to find out more information.

Credit cards

A credit card allows you to spend up to a set limit, and you'll be sent a bill every month. Usually, you get up to 56 days to pay your bill. If you pay the full amount each month, you won't have to pay any interest. Otherwise, the minimum payment you'll have to make is generally 3-5% of the outstanding balance or a set minimum amount of the full amount you owe, you'll pay whichever is most each month. It really pays to shop around for credit cards, but before you use it ask yourself the following:

• How much do I need to borrow and for how long?
• How much can I afford to pay off each month?
• What interest rate are they giving me - both the rate and length of the introductory rate and the normal interest rate?
• What does the introductory interest rate cover - is it for balance transfers and new purchases too?
• Are there any fees I have to pay for the card?
• Are there any extra features or benefits I'll get - like loyalty points, air miles or cash back?

How do I get a credit card?

Lots of places offer credit cards including:

• Banks
• Building societies
• Stores
• Supermarkets
• Internet providers

Visit our credit cards section for more information.

Loans

You can get a loan for various purposes, so if you're dreaming about buying a brand new car, or just want to pay off your debts, a loan may be able to help.

How do you get a loan?

Many places offer personal loans, from banks and building societies to credit card companies and supermarkets.

Many companies offer lower rates for loans if you apply on the internet.

How much can you borrow?

Normally you can borrow between £500 and £15,000, but many lenders allow you to borrow up to £25,000.

What about repaying it?

• Repayments are usually spread over 1 to 5 years. For large loans, you can take up to 10 years to repay it.
• With some loans you borrow a fixed amount at a fixed rate of interest and make fixed payments. Other loans are more flexible and you borrow up to a certain limit and pay off a minimum % or a minimum amount each month.
• Personal loans are often 'unsecured'. That means you don't have to give something valuable that you own, like your home, as a guarantee that the loan will be paid.

Visit our loans section for more information.

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