A mortgage is a loan taken out to buy property or land. Most run for 25 years, but can be shorter or longer depending on what has been agreed with the lender. The loan is secured against the value of your home until it has been paid off. If you’re unable to keep up with your repayments, the lender can repossess your home and sell it to get their money back. So it’s important to think about what is affordable for you before making any financial commitments. An advisor can help you with this.