A free on-line book about UK mortgages 
Click here if you cannot see the frame menu

By Michael Kelly

• A mortgage is probably the largest financial transaction in the lives of most people it pays to know more about it and how to profit from it. Mortgages Exposed is written by Michael Kelly, an acknowledged expert with over thirty years experience in the mortgage business. 
  
  

• The book delves into the innermost parts of mortgages and loans, explaining how they really work starting from the first principles of compound interest, describing the use of powerful comparative tools such as the Internal Rate of Return and the magic of gearing.
  
  

• The target audience is the more discerning borrower, as well as for anyone involved in the financial services industry.  The book focuses on thinking from first principles, and so it should never date.
  
  

• Free, general-purpose spreadsheets are included for download on this web site: so easy to use that you can become an instant mortgage expert, able to analyse many different scenarios and get immediate answers to all your what if questions. 
   

• The on-line tools (see menu above) are simple to use, but vital to anyone considering a mortgages or a re-mortgage or an investment mortgage.
  
  

• Anomalies are exposed, the infamous Rule of 78, the flat rate loan and the lenders who calculate payments in bizarre ways.  The new rules (as from April 2000) for APR calculations are explained.
  
  

• The endowment mortgage scandal is explained and analysed.  A clear answer is given to the dilemma over whether to choose interest-only or capital repayment.
  
  

• Use the complete, general-purpose guide on how to choose any mortgage scheme from the thousands of available options.
  
  

• Flexible and Current Account mortgages are specifically looked at.  Michael Kelly first launched these schemes as early as 1979.
  
  

• Kelly also goes into some detail on the advantages and risks of buy-to-let, and explains how to gear up your profits by several multiples.
  
  

• A section on how to become a millionaire will excite the entrepreneur wishing to exploit mortgages to create wealth.
  
  

• What is the lenders view? Lenders and mortgage brokers will find the spreadsheets for designing a mortgage very useful to ensure the right returns are achieved.
  
  

• Equity release schemes of all descriptions are outlined together with the novel Reverse Mortgage scheme for the house rich but cash poor.
  
  

• The epilogue summarises the story and attempts to analyse the future of digital loans & mortgages.

Now select "Book on-line" above