What does a mortgage broker do?
A mortgage broker can help you compare lenders, understand your options, and choose a mortgage route that fits your circumstances.
Early repayment charges: what they mean for your mortgage
Early repayment charges can apply if you overpay, switch, or repay your mortgage during a deal period, so it’s important to check the limits first.
Mortgage overpayments: how paying extra can reduce your loan
Mortgage overpayments can help reduce your balance faster and cut the interest you pay, but it’s worth checking limits, charges, and flexibility first.
Interest-only mortgage: when the loan balance does not reduce
An interest-only mortgage keeps monthly payments lower because you only pay the interest, but the original loan still needs repaying at the end.
Repayment mortgage: how you gradually pay down the loan
A repayment mortgage reduces your balance over time because each monthly payment covers both interest and part of the loan itself.
Mortgage fees and moving costs explained
Mortgage fees can affect the true cost of a deal, especially if they are added to the loan or weighed against a lower interest rate.
Monthly mortgage repayments: what affects how much you pay
Monthly mortgage repayments depend on how much you borrow, your interest rate, mortgage term, repayment type, and any fees added to the loan.
Standard variable rate: what happens when your mortgage deal ends
A standard variable rate usually applies after your initial deal ends, and it can change over time, which may increase or reduce your monthly payments.
Tracker rate mortgage: when your payments follow another rate
A tracker rate mortgage follows another interest rate, usually the Bank of England base rate, so your monthly payments can rise or fall during the deal.
Variable rate mortgage: when your payments can change
A variable rate mortgage can move up or down over time, which means your monthly payments may change depending on the type of deal and wider rate movements.