A mortgage is a loan secured against your property. You will own the property, but you will have to repay the loan to your lender by making a monthly payment to them according to an agreed schedule. If you don’t make these payments, the lender will have a right to repossess your property. This would only ever be as a last resort, but it’s something that’s very important to keep in mind, so you don’t agree to something you feel you can’t afford.