Home is one of the basic needs of men. Some choose to rent homes while others buy their own. Renting is often a primary option for those who don't have enough cash to purchase a property. However, there are far too many problems in renting homes. It may be the noisy neighbors or the difficult landlord. Further, you never get to own the property no matter how long you've rented it. These problems can be avoided if you have your own house. According to statistics, 70% of Britons have their own house. About 50% of young professionals on the other hand, are aiming to have their own houses before they reach 30. It can be difficult to reach this target if you have only worked for a few years. In this case, taking out a home loan may be a great option. Many banks are willing to lend 100% the amount of the house so you won't have to spend a single penny for your dream home. Repayment methods may vary from lender to lender but typically, you will be required to pay off the mortgage in monthly installments over long periods. Home loans are usually secured against your prospective house. This means if you fail to repay the mortgage, the lender can take your house as a settlement. If you already have a mortgage, you may be able to take a second home loan against the second home or your primary property. Buying a house by means of home loans gives you the chance on investing on multiple properties. The value of the homes is higher than the interest you pay on a home loan.