Introduction to Home Ownership and Mortgages

Explore the fundamentals of mortgages and the process of buying a home

As a first-time potential property owner, the process of buying a home can seem incredibly daunting and complex.

This four-week course from the Chartered Insurance Institute provides a clear and simple introduction to the different elements involved in the property buying process.

You’ll learn the ins and outs of how mortgages work and be equipped to handle your property purchase with ease.

Understand the roles of the estate agent, lender, and conveyancer

When thinking about buying a property, many people don’t consider the number of individuals that can be involved in the process. Each person, from the estate agent, to the lender, conveyancer, and mortgage broker, has a very specific role in helping you land the home of your dreams.

You’ll explore the different functions of each individual to understand how they can help you find the right property, secure a mortgage, and handle legal matters such as title deeds and transfer of ownership.

Discover the lending and financing process and how mortgage rates are calculated

Securing a mortgage is one of the most essential elements of the property buying process, and often the most misunderstood.

On this course, you’ll discover the different types of lenders, their approaches, and where to go for help to find the best deal.

Learn about mortgages and the house buying process from the experts

The Chartered Insurance Institute is the home of the Society of Mortgage Professionals and has a long history of providing learning materials on the provision of financial advice and on insurance.

With guidance and support from your expert educators, you’ll be empowered with the confidence and knowledge to secure a mortgage best suited to your needs.

This course is designed for anyone who wishes to better understand the process of buying a property, particularly through using a mortgage.

It will also be helpful for those aspiring or starting to work in the property market.

This course is designed for anyone who wishes to better understand the process of buying a property, particularly through using a mortgage.

It will also be helpful for those aspiring or starting to work in the property market.

• Describe how the mortgage market fits into the wider economy.
• Explain why mortgages are used and how they are agreed.
• Describe how interest on a mortgage is calculated and how the loan is repaid.
• Explain the different types of mortgage products.
• Describe the different types of lender and borrower.
• Explain why it is important to protect the ability to repay the mortgage and how this can be done.
• Explain why mortgage providers require the property to be insured and what that insurance covers.
• Explain how a mortgage adviser helps connect people with the right mortgage product and lender.
• Explain the house buying process and the role of the estate agent.
• Explain why the property’s value and condition are important in the agreement of a mortgage.
• Explain the legal aspects of mortgages and the house buying process.
• Describe the role of the conveyancer or legal representative in the property buying process.