So - what do you need to know?
In theory a mortgage is quite straight-forward - it's essentially a very big bank loan (which sadly has to be paid back at the end of the agreed term) that helps you to purchase property.
However, as with any loan there are things you need to be aware of to ensure you're getting the best possible deal (and you understand what you're getting yourself into), including choosing the right one for you and your financial situation.
There are a quite a broad-range of mortgages available to you and it can get quite confusing, however, two of the most commonly occurring types tend to be "fixed-rate" and "tracker" mortgages.
Discount Rate Mortgages
Standard Variable Rate Mortgages
There are other schemes out there; however, we strongly recommend discussing your requirements and options with a mortgage broker to find the best solution to suit you.