Looking to learn more about mortgages? We can help.

Whether you already have a mortgage or are applying for one for the first time, the topic of mortgages is overwhelming. Fixed-rate, variable rate, and base rate are all terms you’ll come up against – but what does it all mean?

What are the main types of mortgages?

There are generally two types of mortgage, fixed rate and variable rate. Fixed-rate deals guarantee your interest rate for a set number of years, whereas variable-rate deals mean the rate can fluctuate depending on the economic conditions. Thankfully, professional mortgage brokers can guide you through an often complex process and help you choose a suitable lender.