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• A mortgage is probably the largest financial transaction in most people's lives. It pays to know more about it and how to profit from it. Mortgages Exposed was written by Michael Kelly, an acknowledged expert with over forty year's experience in the mortgage business. It was re-edited in June 2020 to account for changes in legislation.


• 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 aims to provide tools and ideas based on fundamental principles so its core should never date.


• Free, general-purpose spreadsheets are included for downloading from 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.


• Anomalies are exposed, the flat rate loan and the lenders who calculate payments in bizarre ways. The rules for APRC calculations are explained in detail.


• 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 loans.


• Use the general-purpose guide on how to choose any mortgage scheme from the many available options.


• Flexible and Current Account mortgages (or 'Off-set' mortgages) are specifically looked at. Michael Kelly first launched similar 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 any 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 scheme very useful in order 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.