Compare mortgages Whether you're a first time buyer or looking for a remortgage, make sure you compare mortgages so you can find the right deal. Take a look at the range of tracker and fixed rate mortgages below to see if you can find the best deal.

Top Tracker mortgages

Top Tracker mortgages Initial rate Overall cost for comparison Max. lifetime value 2 Year Tracker mortgage 2.64% 4.1% APR 70% Call Santander on 0800 032 4266 3 Year Tracker mortgage 2.99% 4.0% APR 75% Call Santander on 0800 032 4266

Tracker mortgages are one type of variable rate mortgage. Under their terms, you will pay a figure above the Bank of England base rate for the term of the tracker mortgage. This is shown as sum such as 2% or 3.14%, for example over the base rate.

One of the main considerations in choosing a tracker is how long you want this to last. Many of the best trackers only last two years of the usual 25-year mortgage term, and once that initial period is over, they revert to the lender’s standard variable rate. At that point you are likely to be free to remortgage without penalties or remain on the standard variable rate.

Bear in mind, though, that you lender can usually set its standard variable rate at any level, and can change it any time. So, subject to price, you might want to consider a tracker mortgage with a longer term or even a “lifetime tracker” which will last the full-term of the mortgage.

Top Fixed Rate mortgages

Top Fixed Rate mortgages Initial rate Overall cost for comparison Max. lifetime value 2 Year Fixed Rate mortgage 2.35% 4.1% APR 60% Call Santander on 0800 032 4266 2 Year Fixed Rate remortgage 2.64% 4.2% APR 60% Call Santander on 0800 032 4266 3 Year Fixed Rate mortgage 3.49% 4.1% APR 70% Call Santander on 0800 032 4266 5 Year Fixed Rate mortgage 3.79% 4.3% APR 70% Call Santander on 0800 032 4266

The biggest attraction of a fixed-rate mortgage is the having the certainty of what you will pay while the fixed-rate term lasts.

If you fear rising interest rates, then a fixed-rate mortgage will give you comfort – although if your predictions turn out to be wrong – you may find that you are tied to higher payments than you would have had if you had plumped for a tracker.

So, when choosing a mortgage your key criteria should be affordability; in a worst case scenario what’s your downside? You should take independent financial advice on this, to avoid falling into difficulty during the term of your mortgage.

THINK CAREFULLY BEFORE SECURING ANY DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.