When you get a mortgage quote, lenders will be looking at a range of factors. These include:

  • how much deposit you have

  • how big a mortgage loan you want

  • your employment status

  • your credit rating

  • how much you can afford (income vs. existing outgoings and commitments)

  • what kind of property you want to buy.

What type of mortgage should you choose?

Getting the right mortgage depends on your circumstances. Our mortgage comparison can help you:

  • find which types of mortgages are available to you

  • pick the mortgage term you want

  • find the best mortgage rates

  • check which fees apply.

If you want to see how much you could borrow, you can use our mortgage calculator

The mortgage comparison above includes every mortgage, with current mortgage rates, UK wide. You won't find a more comprehensive mortgage comparison, UK wide, so you're guaranteed to find the UK's mortgage best buys here.

To find the best mortgage lenders, check smaller companies as well as bigger lenders like HSBC, Barclays, Natwest and Santander. That way you'll be able to make sure you're finding the cheapest mortgage rates, UK wide.

You'll need to find the best mortgage rates to get the right mortgage for you.

What type of mortgage deals should I be looking for when I do a mortgage comparison?

When you do your mortgage comparison, you'll be looking for the best mortgage deals for you. To help you work out which one this is, you should look for one that:

  • Costs less. How much your mortgage costs depends on its interest rate and any fees that come with it. Compare every deal that fits what you need to find the best mortgage interest rates, lowest fees and the right loan to value (LTV).

  • Will accept you: Some mortgages are especially for specific types of borrowers, such as first-time buyers. Not all mortgage offers are suitable for everyone. Applying for the right types of mortgage can avoid wasting your time and damaging your credit record.

Getting a better deal with a remortgage

If you want to stay in your home but get a better deal on your mortgage, you can look for other mortgage lenders to switch to. This is called a remortgage.

If current mortgage rates available in the market are cheaper than what you're paying for your existing mortgage, you could remortgage to save money. However, be aware that fees may apply depending on the type of mortgage you have.

Here's how to remortgage and check whether getting a new deal is your cheapest option.

Compare remortgage deals here.

Buying your first home

There are several types of mortgages available for first time buyers. There are also lots of schemes to help you get on the property ladder.

Here's where to find help and how to check you can afford to buy a house. Our mortgage affordability calculator can help.. A mortgage payment calculator will show you how much you'll have to pay each month, and overall.

Compare first time buyer mortgages here.

Moving house

If you already own your home but want to move, you may need a new mortgage.

Check if your existing mortgage is portable. If it is, you can move it to a new property.

If it's not portable but you think the best mortgage deal is with a different lender, you can get a new mortgage when you move house. You might pay a fee for switching lender part-way through your term but if the new deal is cheaper, it could still work out better overall.

Compare mortgages you can get when you move home.

Decide what type of mortgage you want

When you take out a mortgage, there are different types of interest rates available. Getting the right mortgage interest rate could save you money, or give you a guarantee that your payments won't increase for several years.

With fixed rate mortgages, the interest rate is set at the start and stays the same until the fixed term ends. This means your mortgage repayments are the same each month. Generally, interest only mortgage rates are higher. But, if the Bank of England base rate rises, you could end up saving money as your mortgage repayments won't rise with it.

At the same time, if the base rate happens to fall, you can't take advantage of lower interest rates without having to remortgage, in which you may have to pay fees.

With a variable rate mortgage, discount mortgage or tracker mortgage, rates are often lower at the start, but they could increase. This means your mortgage repayments can go up and down based on factors outside of your control, such as the economy and the Bank of England's base rate.

A mortgage interest calculator could help you work out the total cost and monthly payments, based on different interest rates.

Here's how to decide which type of interest rate is right for you.

How to choose between different types of mortgages

There are different types of mortgage and you'll need to decide which type you want.

Most mortgages are repayment mortgages. This means your monthly payments gradually clear the amount you owe.

Sometimes people can get an interest-only mortgage. This is where you only pay off the interest. It can mean your monthly payments are lower, but it can cost more in the long run. At the end of your mortgage term, you'll still owe the same as when it started. You could use an interest-only mortgage calculator to help you work out how much you can borrow and how much your payments will be.

Here's how to decide which type is best.

Should I use a mortgage advisor?

A mortgage advisor or mortgage broker is someone who helps you to find a mortgage and advises you on your options.

Going through a broker or finding a mortgage yourself just depends on your preference. Sometimes, having the best mortgage broker can make the experience less stressful and more streamlined.

Just remember that brokers don't necessarily check every mortgage company. Some mortgage companies don't work with brokers.

Get help from a mortgage broker

What do I need to provide to lenders when I apply for a mortgage?

Don't apply for a mortgage until you've found the one you want and are confident that you're eligible for it. Doing multiple applications could affect your credit rating.

To apply, you'll need to share with the lender or your mortgage advisor:

  • proof of your income (e.g. payslips, benefits, child maintenance)

  • bank statements (to show your spending habits)

  • financial commitments (household bills, commuting costs, childcare)

  • spending habits (holidays, hobbies)

  • money owed (credit cards, loans, car finance etc.)

They'll also check your credit rating to see if you're a reliable borrower. They'll be looking to see if you've missed any payments or made any late payments. If you've got a good credit score, you'll be more likely to get the cheapest mortgage rates.

Don't forget that using our mortgage calculator won't affect your credit score.

What do I need to think about before taking out a mortgage?

Getting a mortgage is a major decision. For most people buying a new home is the most expensive purchase they'll ever make and may require rethinking some of your priorities in terms of how you manage your money.

Missing repayments on your mortgage can have lasting consequences. However, if you get a mortgage that you can afford and make your mortgage payments on time, it can go along way in securing your financial future.

Mortgage FAQs

Q

How much could I borrow?

A

Use our calculator to work out how much banks and other mortgage companies may be willing to lend you.

Q

How much will it cost to buy a house?

A

Work out the total amount by adding up all of the costs of buying a home, including mortgage interest and charges, solicitor fees and surveys.

Q

Do I need a new mortgage if I move house?

A

Some mortgages are portable, meaning you can keep them if you move. However, you may be able to find a cheaper deal if you switch.

Q

Do I need a deposit?

A

You need to pay some of the purchase price yourself with most mortgages. Some are available without a deposit, but you usually need a guarantor.

Q

How can I save up a deposit?

A

You can save up yourself, get help from family or use a Help to Buy ISA. Here is how to get a deposit together.

Q

Can I get a mortgage through a broker?

A

Yes, you could contact a mortgage broker for help choosing one that suits your finances.

About our mortgage comparison

Q

Who do we include in this comparison?

A

We include mortgages from every lender in the UK. They are all from lenders regulated by the Financial Conduct Authority. Here is more information about how our website works.

Q

How do we make money from our comparison?

A

We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.
You do not pay any extra and the deal you get is not affected.

Q

What awards have we won?

A

We've won a range of awards for our website, including Best Comparison Site for Mortgages at the What Mortgage Awards 2018.