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You can use your asset, like your home, business or other property to help make your dreams come true. What is vital is to make the most out of the things that you already have. Yes, you can surely use your home to get you those extra funds that you need by obtaining a mortgage loan.

There are many different types of mortgage loans to choose from.

With a mortgage loan, you use your house to borrow an amount of money that you need. Borrowing money with a council house mortgage requires that you offer an asset for collateral. The asset can be anything that has a substantial financial value such as a car, property, jewellary, equity shares, bonds, antique art or similar. The provided asset is then researched for its value and worth. The mortgage loan is then provided to the person who is asking for it. For this facility, as you repay the loan amount an interest is charged. So, you'll have to pay the loan amount plus the interest charged.

With a mortgage loan, you can borrow anywhere from 70% to 100% of the value of the asset.

The various types of council house mortgage - Self cert. mortgage, buy to let mortgage, 100% mortgage, bad credit and adverse credit mortgage loan and many others. Let us understand a few of these mortgage loans:

With a mortgage loan, you can get either a fixed or adjustable interest rate. A set amount of mortgage rate is decided between borrower and lender is what's known as a fixed rate of interest. Here, the main benefit is that the repayment amount towards the loan remains the same through out the loan period. This is also called fixed rate mortgage loan.

Changing interest rates on your mortgage loan affect your repayment plan.