What type of mortgage do I want?

The most complicated decision you'll face when buying a mortgage is whether to go for a fixed or variable rate mortgage. The mortgages market has been quite healthy lately, although it is now experiencing a downturn. Interest rates are still low and house prices are high - but the danger is that even a rise of just 0.25% in the interest rates could make a significant impact on your monthly repayments. If you would rather avoid the risk of fluctuating interest rates, then you may be best off with a fixed rate mortgage.

The variable rate mortgage means that every time the Bank of England Base Rate increases or decreases, the likelihood is that the interest rate on your mortgage will similarly change. So your monthly repayments could change many times in just one year - either up or down! Obviously, you could save yourself a considerable amount of money if the interest rates go down.

Fixed rate mortgages are increasingly popular when imterest rates are on an upward trend (and vise versa).

We beleive that it is important that you always seek professional mortgage advice. Mortgages are complex and new mortgage products are launched almost every month. If you ask for a quote via this web site an adviser will phone youi within 24 hours.