Before you invest in any given fund, decide whether investment strategy and risks of fund are a good fit for you. The first step to successful investing is figuring out your financial goals and risk tolerance - either on your own or with help of a financial professional. Once you know what you're saving for, when you'll need money, and how much risk you can tolerate, you can more easily narrow your choices.

Most mutual funds fall into one of three main categories - money market funds, bond funds (also called "fixed income" funds), and stock funds (also called "equity" funds). Each type has different features and different risks and rewards. Generally, higher potential return, higher risk of loss.

Money Market Funds:

This is because not everyone fits standard criteria lenders apply. But don't worry if you are one such customer - help is at hand.

These days there are around a dozen 'non-standard sub prime' mortgage lenders, who cater for individual cases. Some of them are standalone, others are owned by mainstream banks and building societies. All of them offer viable mortgage alternatives for those prospective borrowers who may not fit standard mould. 'Non-standard sub prime' can cover a range of different borrower types.