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Types of Mortgages
Understand your mortgage options to find the right mortgage for you.
Explore Mortgage Types
With access to over 75 lenders, we can help you find the right mortgage type for your circumstances
Fixed Rate Mortgage
Your interest rate stays the same for a set period (typically 2-5 years), giving you certainty over your monthly payments.
Predictable payments
Protection from rate rises
No fluctuations
Variable Rate Mortgage
Your rate can go up or down based on the lender’s standard variable rate (SVR) or the Bank of England base rate.
May benefit from rate cuts
Often, there are no early repayment charges
Flexible
Tracker Mortgage
Your rate tracks the Bank of England base rate plus a set percentage, moving up or down with it.
Transparent pricing
Benefit from rate cuts
Often at competitive rates
Offset Mortgage
Your savings are linked to your mortgage, reducing the interest you pay while keeping access to your money.
Reducing interest costs
Access to savings
First-Time Buyer Mortgage
Designed for those buying their first home, often with smaller deposit requirements and government scheme eligibility.
Lowest deposits accepted
Access to schemes
Buy-to-Let Mortgage
For purchasing property to rent out. Based on rental income potential and typically requires larger deposits.
Build a property Portfolio
Rental income covers the mortgage
Self-Employed Mortgage
Tailored for self-employed borrowers who may have complex income. Typically requires 2-3 years of accounts.
Specialist lenders
Various income calculations
Joint Mortgage
Allows two or more people to buy a property together, combining incomes to increase borrowing power.
Higher borrowing potential
Shared responsibility
Remortgage
Switching your existing mortgage to a new deal, either with your current lender or a new one.
Potentially lower rates
Release equity
Interest-Only Mortgage
You only pay the interest each month, with the capital repaid at the end of the term via a repayment strategy.
Lower monthly payments
More affordable short-term
Types of Mortgages FAQs
What is a fixed-rate mortgage?
A fixed-rate mortgage keeps your interest rate and payments the same for a set period, usually between two and five years.
What is a tracker mortgage?
A tracker mortgage follows an external rate, such as the Bank of England base rate, meaning payments can rise or fall.
What is a variable-rate mortgage?
Variable-rate mortgages can change at the lender’s discretion and are not linked to an external rate.
What is an offset mortgage?
An offset mortgage links savings to your mortgage balance, potentially reducing interest payable, though rates may be higher.
What is an interest-only mortgage?
With interest-only mortgages, you pay only the interest each month and must have a suitable repayment strategy for the capital.
How do I choose the right mortgage type?
Choosing a mortgage type depends on your financial situation, attitude to risk, and future plans. Advice should be tailored to individual circumstances.
Not Sure Which Mortgage Is Right For You?
Our expert advisers can explain your options and find the right mortgage for your situation