Hire Purchase - Cheap Mortgage Deals

This term is used to describe a purchase brought on credit. The items likely to be bought on a hire purchase agreement are; cars, electrical items and furniture. You will need to have a credit check carried out before you are given the all clear to borrow the funds.

Also known as HP or 'the never, never'. Hire purchase has been a very successful way to purchase items the minute they are required, the downside of the arrangement has often been a high interest rate attached to the terms.