A Mortgage is a lump some of money that you can borrow from a lender in order to purchase a property.  You can borrow money based on the size of deposit you have alongside your yearly salary.  You will pay back the mortgage over a set period time with interest that is accrued.  There are two different types of mortgage available which are Repayment and Interest Only, Repayment being the most common to be offered for new mortgages.