Which Mortgage For Me?

The Mortgage Shop is committed to finding the right product for all its customers. We will talk you through the different options available to you and help you decide which mortgage is right for you.

The Mortgage Shop is a National Loan and Remortgage broker that has the benefit of a panel of lenders that offer a variety ofproducts. We have put together a simple guide to help you gain some understanding of the products available and what this means to you and your circumstance.

Fixed Rate Mortgages
A Fixed Rate Mortgage allows you to know exactly where you stand with your mortgage payments every month. It works by offering a fixed rate of interest for a specified period of time. After the set period, the rate will revert to the lender's standard variable rate.

Discount Mortgages
A Discount Mortgage allows you to significantly reduce your mortgage payments and helps ease you into your new mortgage. It works by offering a percentage discount off the lenders standard rate for an initial period of the mortgage. Once that period is over, the interest rate will revert back to the lenders standard variable rate.

Tracker Mortgages
A Tracker Mortgage tracks for a set period of time, the rate you will pay moves directly in line with either, the Bank of England or LIBOR rate. At the end of the set period, the lenders standard variable rate will generally apply.

Variable Rate Mortgages
A Variable Rate Mortgage is where the interest rate is not fixed, but rises and falls in line with the changes in interest rates in the economy, as a whole and specifically the lenders standard variable rate.