Fixed rate
The interest rate stays the same for an agreed period. Check what happens when that period ends.
Resource Centre
Guides for real-life decisions
Choose a topic and read at your own pace. Every guide has a next step and a human-support route.
Mortgage essentials / 02
Understanding mortgage rate types
Your rate affects the interest you pay. A deal period can be shorter than the full mortgage term.
Variable rate
The rate can rise or fall, so your payments may change. How it changes depends on the product.
A type of variable rate
Tracker rate
Follows a specified benchmark, often the Bank of England base rate, at an agreed margin. Product terms may include limits.
A type of variable rate
Discounted rate
A discount from the lender’s standard variable rate for an agreed period. Your rate can still change when that underlying rate changes. A larger discount does not necessarily mean a lower rate.
Possible features — check the product terms
These are features, not rate types. Not every lender or mortgage offers them.
Overpayments
Pay more than required to reduce the balance. Limits or early repayment charges may apply.
Underpayments
Pay less only where your lender permits it and the arrangement is agreed. Do not reduce payments yourself.
Payment holidays
Pause payments only where permitted and agreed with the lender. Interest usually continues to accrue, increasing what you owe.
Illustrative information only. This does not constitute mortgage advice or a mortgage offer.
14 resources
Buying a Home
First-Time Buyers
Build a clear picture of your budget, borrowing and first purchase.
Read more ↗Buying a HomeMoving Home
Understand equity, your existing deal and the timing of a move.
Read more ↗RemortgagingRemortgage
Compare the whole cost and your circumstances—not just a headline rate.
Read more ↗LandlordsBuy-to-Let Mortgages
A landlord-focused conversation about the property and the borrowing.
Read more ↗ProtectionHome Insurance
Separate protection for the building from protection for the belongings inside.
Read more ↗LandlordsLandlord resources
Budgeting and responsibilities to discuss before letting.
Read more ↗BusinessBusiness resources
Finance, verification and reporting starting points.
Read more ↗CalculatorsMortgage calculator
An illustrative monthly repayment, not an offer.
Read more ↗CalculatorsBusiness finance tools
Shape a requirement without a repayment quote.
Read more ↗FAQsCommon questions
Find answers and a human-support route.
Read more ↗No resources match. Try a shorter search or another category.