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Finance · Property finance

Mortgages in Plain English: Your Step-by-Step Guide to Home Loans

A practical, jargon-free course for UK adults who want to understand mortgages from start to finish. Learn how mortgages work, how to compare deals, what lenders look for, and how to manage your mortgage over time. No prior knowledge needed.

360 min8 modulesBeginner friendly
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Free to take. This course does not use any Learning Credits.

What you’ll be able to do

By the end of this course, you will be able to explain the key features of a mortgage, compare different mortgage types, identify the main costs and risks, and describe the steps to apply for and manage a mortgage in the UK.

Course outline

A clear route from first principles to practical confidence

  1. 01

    Module 1: What Is a Mortgage? The Basics Made Simple

    • Lesson 1.1: The simple idea – borrowing to buy a home
    • Lesson 1.2: Key people and organisations: you, the lender, the solicitor
    • Lesson 1.3: Common mortgage words explained: deposit, loan-to-value, interest rate, term
    • Lesson 1.4: How a mortgage is secured against your home
  2. 02

    Module 2: Types of Mortgages – Which One Fits You?

    • Lesson 2.1: Fixed-rate mortgages – knowing your payments for a set time
    • Lesson 2.2: Variable-rate mortgages – tracker, standard variable rate, and discount deals
    • Lesson 2.3: Interest-only versus repayment mortgages – the big difference
    • Lesson 2.4: Specialist mortgages: first-time buyer, buy-to-let, and shared ownership
  3. 03

    Module 3: How Lenders Decide – Affordability and Your Credit Score

    • Lesson 3.1: The affordability check – income, outgoings, and stress tests
    • Lesson 3.2: Your credit score and credit report – what they show and how to check them
    • Lesson 3.3: Deposit size and loan-to-value – why a bigger deposit helps
    • Lesson 3.4: Other factors: employment type, age, and existing debts
  4. 04

    Module 4: The True Cost of a Mortgage – Fees, Rates, and Repayments

    • Lesson 4.1: Interest rates explained – APR, base rate, and how they affect your monthly payment
    • Lesson 4.2: Upfront fees: arrangement fees, valuation fees, and legal costs
    • Lesson 4.3: Ongoing costs: mortgage payments, insurance, and maintenance
    • Lesson 4.4: Early repayment charges and what happens when your deal ends
  5. 05

    Module 5: Getting a Mortgage – The Step-by-Step Process

    • Lesson 5.1: Getting a Decision in Principle – what it is and why you need it
    • Lesson 5.2: Finding a mortgage deal – using comparison sites and brokers
    • Lesson 5.3: The full application – documents you will need and the lender’s checks
    • Lesson 5.4: From offer to completion – surveys, solicitor work, and exchange of contracts
  6. 06

    Module 6: After You Get the Mortgage – Managing and Reviewing It

    • Lesson 6.1: Making your monthly payments – direct debits and overpayments
    • Lesson 6.2: When your fixed or tracker deal ends – the standard variable rate trap
    • Lesson 6.3: Remortgaging – switching to a new deal without moving home
    • Lesson 6.4: What to do if you struggle to pay – options and support
  7. 07

    Module 7: Common Pitfalls and How to Avoid Them

    • Lesson 7.1: Borrowing too much – the danger of stretching your budget
    • Lesson 7.2: Ignoring the small print – hidden fees and tie-ins
    • Lesson 7.3: Not shopping around – why the first offer may not be best
    • Lesson 7.4: Forgetting about other costs – insurance, repairs, and moving expenses
  8. 08

    Module 8: Your Mortgage Questions Answered – Real Scenarios

    • Lesson 8.1: Case study – a first-time buyer’s journey from start to finish
    • Lesson 8.2: Case study – remortgaging to save money
    • Lesson 8.3: Case study – buying with a partner or friend
    • Lesson 8.4: Where to get free, impartial help – MoneyHelper, Citizens Advice, and brokers