Mortgages are a crucial part of the home buying process in the UK, with various types available to suit different needs.
This page aims to explain the different mortgage options, helping potential homeowners understand which might be right for them. It provides clear and straightforward information on each mortgage type.
Fixed-rate mortgages offer stability with consistent monthly payments for a set period.
The page details how these mortgages work and who they might be best suited for. It also covers variable-rate mortgages, including tracker and standard variable rate (SVR) options, explaining how they differ from fixed-rate mortgages in terms of interest rate changes and potential risks.
Additionally, the page explores more specialised mortgage types such as interest-only and offset mortgages. It explains the unique features of these mortgages, including their benefits and potential drawbacks.