What type of mortgage should you choose?
Getting the right mortgage depends on your circumstances, but our comparison can help you:
Find which types of mortgages are available to you
Pick the mortgage term you want
Get the best mortgage rate
Check which fees apply
You can also check how much you could borrow, using our mortgage calculator.
This comparison includes every mortgage you can currently get in the UK. To find the best mortgage lender, check smaller companies as well as big lenders like HSBC, Barclays, Natwest and Santander, as they may offer cheaper rates.
To find the best mortgage for you, look for one that:
Costs less: How much your mortgage costs depends on its interest rate and any feesthat come with it. Compare every deal that fits what you need to find the best mortgage rates, lowest fees and the right loan to value (LTV).
Will accept you: Some mortgages only accept certain borrowers, like first time buyers or existing homeowners. Applying for the right types of mortgage can avoid wasting your time and damaging your credit record.
Compare just the mortgages designed for your circumstances using our comparisons for:
Getting a better deal with a remortgage
If you want to stay in your home but get a better deal, a remortgage lets you switch. This can save you money if:
- The interest rate on the new deal is cheaper
- The fees for switching are not too high
Here is how to remortgage and how to check whether getting a new deal is your cheapest option.
Buying your first home
There are several types of mortgage available for first time buyers and schemes to help you get on the property ladder. Here is where to find help and how to check you can afford to buy a house.
If you already own your home but want to move, you may need a new mortgage. Check if your existing mortgage is portable, which means you can move it to a new property.
If it is not portable or you want a better deal with a different lender, consider getting a new mortgage when you move house.
Decide what type of interest rate you want
Getting the right interest rate could save you money or give you a guarantee that your payments will not increase for several years.
Fixed interest rates are higher on average but could save you money if rates rise because your interest stays the same until the fixed term ends.
Variable, discount and tracker rates are often lower but could go up. Here is how to decide which type of interest rate is right for you.
Choose between interest only and repayment mortgages
Most deals are repayment mortgages, which means your monthly payments clear the amount you owe by the end of its term.
However, you may also be able to get an interest only mortgage, which would come with lower monthly payments but could cost more in the long term.