Your home may be repossessed if you do not keep up repayments on your mortgage.

HSBC 2 Year 2.95% Discount Special
0800 077 4270
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
60%0.99% variable
for 24 months
3.94%3.6% APR
TSB 2 Year BBR+0.84%
0333 3314495
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
60%1.34% tracker
until 28 Feb 2017
3.99%3.8% APR
TSB 2 Year 1.74% Fixed >£200K
0333 3314495
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
75%1.74% fixed
until 28 Feb 2017
3.99%3.8% APR
Chelsea Building Society 2 Year 1.84% Fixed
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
65%1.84% fixed
until 31 Oct 2016
5.65%5.1% APR
Yorkshire BS Flexi 2 Year 1.84% Fixed
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
65%1.84% fixed
until 31 Oct 2016
4.99%4.6% APR
Post Office 2 Year 1.93% Fixed
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
75%1.93% fixed
until 31 Dec 2016
4.49%4.1% APR
TSB 2 Year 1.94% Fixed
0333 3314495
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
60%1.94% fixed
until 28 Feb 2017
3.99%3.8% APR
Leeds Building Society 2 Year BBR+1.45% Fee Assist
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
65%1.95% tracker
until 31 Aug 2016
5.69%5.2% APR
Yorkshire BS 2 Year BBR+1.49% + Cashback
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
65%1.99% tracker
until 31 Oct 2016
4.99%4.6% APR
Chelsea Building Society Flexi 2 Year 2.04% Fixed Offset
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
65%2.04% fixed
until 31 Oct 2016
5.65%5.1% APR
Virgin 2 Year BBR+1.65%
0845 322 8311
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
75%2.15% tracker
until 01 Feb 2017
4.79%4.5% APR
Interest only mortgages are not available where property value is less than £500k or where combined applicants income is less than £100k. Maximum LTV is 70%.
HSBC Lifetime BBR+1.69%
0800 077 4270
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
70%2.19% tracker
-2.3% APR
Leeds Building Society 2 Year 2.49% Fixed Remortgage + Cashback Fee Assist
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
70%2.49% fixed
until 30 Nov 2016
5.69%5.2% APR
Available for remortgage only.
Clydesdale Bank 2 Year 2.69% Fixed + Cashback
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
75%2.69% fixed
until 31 Jan 2017
4.95%4.8% APR
TSB 5 Year 2.84% Fixed Remortgage >£200k
0333 3314495
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
60%2.84% fixed
until 29 Feb 2020
3.99%3.8% APR
Available for remortgage only.
HSBC 2 Year 1.05% Discount Special
0800 077 4270
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
90%2.89% variable
for 24 months
3.94%3.9% APR
Yorkshire Bank 2 Year 2.89% Fixed + Cashback Fee Offer
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
75%2.89% fixed
until 31 Jan 2017
4.95%4.7% APR
Leeds Building Society 5 Year 2.99% Fixed
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
65%2.99% fixed
until 31 Dec 2019
5.69%4.7% APR
Virgin 5 Year 2.99% Fixed
0845 322 8311
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
70%2.99% fixed
until 01 Feb 2020
4.79%4.2% APR
Interest only mortgages are not available where property value is less than £500k or where combined applicants income is less than £100k. Maximum LTV is 70%.
TSB 2 Year BBR+2.54% No Fee
0333 3314495
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
85%3.04% tracker
until 28 Feb 2017
3.99%3.9% APR
If you’re buying a home we’ll pay your council tax for the 1st year, up to £2500. Offer applies to qualifying mortgage applications and proof of valid bill payment is required. One off Payment to a maximum of £2,500.
Available for first time buyers only.
Virgin 3 Year 3.29% Fixed Buy To Let + Cashback
0845 322 8311
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
70%3.29% buy to let
for 36 months
4.99%4.9% APR
This is a buy to let mortgage. Minimum income of £25,000 is required.
Clydesdale Bank 3 Year 3.54% Fixed >£150k
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
90%3.54% fixed
until 31 Jan 2018
4.95%4.8% APR
Yorkshire Bank 3 Year 3.54% Fixed >£150k
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
90%3.54% fixed
until 31 Jan 2018
4.95%4.8% APR
Clydesdale Bank 3 Year 3.59% Fixed + Cashback
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
90%3.59% fixed
until 31 Jan 2018
4.95%4.7% APR
Available for first time buyers only.
Yorkshire Bank 3 Year 3.59% Fixed + Cashback
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
90%3.59% fixed
until 31 Jan 2018
4.95%4.7% APR
Available for first time buyers only.
Clydesdale Bank 5 Year 3.79% Fixed + Cashback
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
75%3.79% fixed
until 31 Jan 2020
4.95%4.7% APR
Virgin 5 Year 3.79% Fixed Buy To Let + Cashback
0845 322 8311
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
60%3.79% buy to let
for 60 months
4.99%4.9% APR
This is a buy to let mortgage. Minimum income of £25,000 is required.
Yorkshire Bank 5 Year 3.79% Fixed + Cashback
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
75%3.79% fixed
until 31 Jan 2020
4.95%4.7% APR
TSB 2 Year 4.29% Fixed
0333 3314495
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
90%4.29% fixed
until 28 Feb 2017
3.99%4.3% APR
If you’re buying a home we’ll pay your council tax for the 1st year, up to £2500. Offer applies to qualifying mortgage applications and proof of valid bill payment is required. One off Payment to a maximum of £2,500.
HSBC Lifetime BBR+3.89%
0800 077 4270
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
90%4.39% tracker
-4.6% APR
HSBC 2 Year 4.79% Fixed Help to Buy
0800 077 4270
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
95%4.79% fixed
until 28 Feb 2017
3.94%4.2% APR
Clydesdale Bank 3 Year 4.89% Fixed + Cashback
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
95%4.89% fixed
until 31 Jan 2018
4.95%5.1% APR
Available for first time buyers only.
Yorkshire Bank 3 Year 4.89% Fixed + Cashback
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
95%4.89% fixed
until 31 Jan 2018
4.95%5.1% APR
Available for first time buyers only.
Post Office 2 Year 4.99% Fixed Help to Buy Guarantee
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
95%4.99% fixed
until 31 Dec 2016
4.49%4.7% APR
Post Office 5 Year 5.45% Fixed Help to Buy Guarantee
Maximum LTVInitial RateSubsequent RateOverall Cost for Comparison
95%5.45% fixed
until 31 Dec 2019
4.49%5.0% APR

We provide an independent comparison service free of charge but we may receive a commission from some of the companies we refer you to. These are indicated with purple buttons.

How to Find the Best Mortgage Deals

by Martin from money.co.uk

A mortgage is a path to buying the home you want but it's also likely to be the biggest financial commitment you ever make. So, finding the best mortgage rates & the most suitable mortgage deals is vital, here's how.

House On Hand In Blue Sky

Choosing a mortgage is an important financial decision, pick the wrong one and it could end up costing you thousands of pounds in interest and charges more than it needs to.

Simply sticking a pin into a list of the top 10 mortgages isn't enough either.

Here's how to ensure you find the best mortgages for your circumstances.

Establish what you need

The first step towards getting a mortgage is to work out what you need, including how much you need to borrow, what you have available to use as a deposit and how much you can afford to repay each month.

You should also work out the likely loan-to-value you'll need to borrow - this is the percentage of your new property's value you will need to borrow from a mortgage provider to be able to purchase the property you've set your sights on.

Grabbing a calculator and establishing what you need from your mortgage in this way before you start comparing various offers is a good way to cut out a lot of irrelevant deals that you either won't qualify for or that don't give you what you're looking for.

Interest only or repayment?

Choosing between an interest only and repayment mortgage is also a vital first step when finding the best deals.

Interest only mortgages are usually cheaper than their repayment counterparts but will only pay the interest due on your mortgage and not actually reduce the outstanding balance. This means you need to pay into a separate savings plan, an investment, or have some other means of repaying the whole amount you've borrowed at the end of the term.

A repayment mortgage will gradually pay off the outstanding balance of your mortgage as well as the interest you owe from your monthly repayments, meaning at the end of your mortgage you own your property and have nothing left to pay.

However, because you're repaying the balance on top of the interest the amount you'll have to pay each month will be slightly higher - although you won't need to set up and pay into a separate investment to clear your mortgage balance at the end of your term.

For more help deciding read our guide: Mortgages: Repayment-vs-Interest Only.

Choose a type of mortgage

There are thousands of mortgages on the market in the UK; however, the vast majority of residential mortgages will fall into one of three categories, Fixed Rate Mortgages, Tracker Mortgages and Discount Mortgages.

Each type of mortgage works slightly differently, offering various reassurances regarding their interest rates, which determines how much your mortgage costs.

Deciding which of these best suits your circumstances before you begin to compare rates and specific deals will help you eliminate offers that don't suit your finances so you can find the cheapest suitable mortgage quicker.

For more help deciding which type of mortgage is best for your finances read our guide: Fixed, Tracker or Discount Mortgage?

As well as the 3 main types of mortgage there are several other products you may want to consider.

If you have a substantial amount in savings you may want to consider an offset mortgage which would link your savings to your mortgage and mean you're only charged interest on the difference between your savings and the outstanding balance.

Another option is a current account mortgage which combines your mortgage, current and savings account into one account so you have more flexibility managing your money.

If you have poor credit then you may want to consider applying for a mortgage specifically tailored for people with bad credit. Although theses mortgages may be a little more expensive you will have a greater chance of your application being successful.

Compare interest rates

Once you've established how much you need to borrow and the type of mortgage you want to apply for, the next step is to search for the cheapest mortgage interest rates on offer.

Finding cheap mortgages is intrinsically linked to finding a low interest rate - as you will be repaying it back for several years it is the interest rate which will largely determine how costly each mortgage is.

Use our mortgage comparison table to compare mortgage rates side by side so you know which mortgage lenders are offering the lowest rates for your circumstances.

Check the fees

Once you found the lowest possible mortgage interest rates available on suitable mortgage deals the next step is to check the fees associated with each mortgage.

Although the interest rate applied to the mortgage is likely to represent the bulk of the cost, fees have started to climb in recent years, with some providers charging anywhere up to 2,000 as an application fee for their best mortgages.

This means that mortgage fees can still make a significant difference to finding the best deal when you compare mortgages.

Deciding how to pay your fees can also have a big effect on how competitive your mortgage deal ends up being, read our guide: The Mortgage Mistake That's Easy to Make.

Once you've checked the fees of the top mortgage deals go for the option that will cost you least overall when you take the interest, fees and charges into consideration.

Before you apply for any mortgage, you should also check that you meet all the stated eligibility criteria, this will avoid you application being declined and leaving an unnecessary search on your credit file. 

For a step by step guide on choosing the best mortgage and access to useful resources to help you make a decision, try following our Action Plan: How to get the best mortgage deal.

Other useful resources for mortgages:

  • DirectGov - Governement guidance and support on choosing a mortgage
  • HMRC - information on stamp duty tax
  • Wikipedia - free online definition of mortgage loans 
  • Mortgage Rescue Scheme - free online guide to government support scheme