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Types of mortgage

There are a number of different mortgage deals you can choose from. Ultimately your decision will depend on whether you prefer the stability of paying the same amount on your mortgage each month or whether you're prepared to take a bit of a risk and can afford to pay your mortgage even if interest rates fluctuate.

Some mortgage deals even let you have the best of both worlds.

You'll also need to decide whether you want an interest-only mortgage – where you only pay interest initially, which keeps your monthly payments down – or whether you'd prefer a repayment mortgage – where you pay both the amount you originally borrowed and the interest.

The main types of mortgages include:

 
 
Lender Initial Rate Duration Standard Rate Overall Cost For Comparison Max Loan To Value Fee
1.99%2 years3.94%3.7% APR60%£1499
2.45%2 years5.69%5.4% APR75%£999
2.49%2 years4.99%4.7% APR70%£499
2.59%2 years5.64%5.1% APR75%£990
2.59%3 Years4.99%4.4% APR60%£598
2.65%3 years5.49%4.8% APR75%Nil
2.65%2 Years5.69%5.5% APR75%£999
2.69%2 years4.99%5% APR75%£795
2.74%To Mar 20144.99%4.8% APR75%Nil
2.89%2 years4.99%4.7% APR75%£795
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