Types of UK Mortgage

When buying a home in the UK you will need to select which of the various types of mortgage you want to use – and there’s a lot of them to choose from.

However, almost every mortgage belongs to one of the following two categories. (It’s the many variations on these two which make things seem more complicated than they have to be).

Your mortgage will either be a:

Repayment mortgage

OR an

Interest-only mortgage


Your next step is to decide which of these types you want.

Start by quickly learning about the basics of “Repayment” and “Interest” mortgages (Click on either link).

Deciding which of these two main types you feel comfortable with will help you get to the next stage: drawing up a shortlist of the “variations” of either main types that you will consider.

(Later on you can find the current best deal for the type of mortgage you want. You’ll see how to do this in the section Where to Find Your Mortgage)


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