Mortgages are an important part of buying a new property.
However, whether you already have a mortgage, or you're a first-time buyer, the sheer number of deals available could leave you a little confused.

So much choice is good because it means you are more likely to get a mortgage suited especially to your needs.

Getting a clear understanding of the basic features and benefits of mortgage self certification will quickly help you to decide whether this type of mortgage is right for you.



Financial advice
Applying for a mortgage
Mortgage checklist
More tips to get a mortgage

Types of mortgage

Before you can decide on the right one, though, you need to know the differences between the many types available.

Explore the choices
When you take out a mortgage there are two key decisions you have to make:
  • What rate of interest will I pay?
  • How do I repay the loan?

Put simply, a mortgage is a loan secured against property and when choosing the rate of interest you pay, you'll need to consider the two basic types available. The first is a variable rate and is offered by just about every lender.

The second type is harder to categorise but generally these mortgages offer deals over a limited period. There is a wide choice of packages including fixed rate loans, capped rate and flexible mortgages.

Read more about Types of mortgage

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