The Choices You Need to Make

Choosing a mortgage can seem daunting when there are so many different mortgage lenders, offering so many different deals.

But, with our help, it can be perfectly straightforward.

Whatever you want to know about, just click on the related link for the information you need to make an informed choice.

Basically, when you’re looking for a mortgage, there are six things to decide. These are:


• The Amount

This will depend on a combination of factors, including the price of your chosen property, what you can afford and what your mortgage lender is willing to lend you.

For more on this, see  How much can I borrow – coming next?


• The Term

You can sign up for a traditional 25-year mortgage term or borrow over a longer or shorter period.

To find out more, read What mortgage term should I choose?


• The Type of Mortgage

You can opt for a repayment mortgage (also known as a capital and interest mortgage) or an Interest-only mortgage.

For more on this, visit Should I choose repayment or interest-only?


• The type of interest deal

Most people go for a fixed-rate or a discounted variable interest deal – although there are other options (see our A-Z of all UK mortgage types.)

To help you decide, read Should I go for a fix or a discount?


• The length of the deal

Fixes and discounts can last for anything from a few months to your full mortgage term, but deals lasting two to five years are most popular.

To find out more, see What length of Mortgage deal should I choose?


• The Mortgage Lender

Your mortgage lender could be a bank, building society or some other financial institution.

To help you find the one offering the best interest rate – and terms and conditions – for the type of loan you want, it’s important to have reliable advice.

You can get this from a mortgage broker or an IFA (independent financial adviser).

To help you make the choice, go to Finding your mortgage.


Read On / Mortgage Basics