Once a mortgage lender has agreed in principal to give you a mortgage on a property you want to buy, the next step is to actually get hold of the funds.
The loan itself is the "advance", known as such because the lender is lending you, the borrower, the money in advance of repayment.
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This content of this site is for
information purposes only, as a plain speaking introduction to mortgages.
No claim to the accuracy of information on this site is made and you
are strongly advised to verify information presented
here with a qualified advisor before making any financial decisions
based on this information.
