Types Of Mortgages

Mortgages can be a very confusing subject.  Here we will try and break down the confusing aspect and make mortgages as simple as possible for you.

First of all there are two types of mortgages to choose from.  These are either:-

Repayment mortgages

or

Interest only mortgages

Once you know what kind of mortgage you would like you then choose what kind or rate or options you might like.  These choices might include:-

Fixed rate

Tracker rate mortgages (or base rate tracker)

discounted rate

Flexible mortgages

Offset mortgages

Current account mortgage

Standard variable rate