Ready to buy a home but not even certain what type of mortgages or options there are? Honestly, you have more options than you think! Here are some mortgage options that can help land you in the home of your dreams.
What types of mortgages are there?
Taking the time to get educated can afford you a home that you’ll love and adore.
- Fixed-rate mortgage
- Standard Variable Rate
- Interest-Only Mortgage
- Tracker Mortgages
- Buy to Let Mortgages
When trying to decide what mortgage is best, do your research and figure out what you can afford. Then, once you’re educated, you should be better suited to choose the mortgage and assess mortgage rates that will complement you and your financial ability. You may be able to find a lender that can help you refinance your mortgage as well.
The infographic below gives you a better understanding of each type of mortgage to see which is the right one for you.
I really think children should be taught about mortgages and money matters at school, it’s hugely important and I had no idea until I read up on it what was going on!
I completely agree I felt very confused when I bought my first house. It felt like a minefield.
Great post. The world of mortgages is so confusing.
I couldn’t agree more, it really confused me in the beginning.
Mortgages can be hard to get your head around. Great information
I found them very confusing and needed lots of explanation initially, I think they should be more help.
We spent a lot of time reading up on this last year! Finally managed to secure a mortgage and get on the property ladder.
That’s great news, I’m really pleased for you.
This is such a useful guide – I always think mortgages are so puzzling!
I am really pleased you have found this useful.