What mortgage deals are there?

There are many, many different mortgage deals out there, and this is because each lender has its own standard Interest Rate that it charges on its mortgage, often called the standard variable rate. Lenders also promote ranges of special deals at special interest rates, although these deals are often aimed at first time buyers, people switching mortgages but not moving from the house, (known as re-mortgaging) and people who wish to move house.

All these different types of deals fall into different categories, such as fixed rates and capped rates, and variable rates, which includes trackers, discounts, and standard variable rates. Now a days it is possible to mix and match these mortgage deals to create a unique deal for your needs, although these cases are quite rare. You could get a deal that has a fixed rate, followed by a discounted rate, and some lenders even offer cash back. With so many different deals to choose from, it is likely that you may need help in deciding what is right for you, as follows.