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Mortgage Comparison GuideWelcome to our Mortgages Guide.  If you want to go straight to the search function you can click the 'Get Quotes' button above, or at the bottom of this guide to get a super-fast and competitive mortgage comparison from many leading providers. Finding a mortgage via us will increase the amount we donate to charity -  at no extra cost to you. If you want to know more about mortgages before searching then read our informative guide below. 

What is a Mortgage?

"A mortgage is a loan which is secured against your home. When you take out a mortgage you agree to pay the loan back with interest over a period of time agreed with your lender. If for any reason you cannot repay the loan, the mortgage lender can sell the house to recover the debt."1

The sum borrowed is usually repaid either as a 'Repayment' mortgage, where each month part of the loan capital and part of the interest the lender charges on the loan are paid off, or as an 'Interest only' mortgage, whereby only the interest charges are paid off monthly, not the loan per se.  It is very important for prospective borrowers to understand that although interest-only mortgages result in reduced monthly payments compared to repayment mortgages, at the end of the loan term, the amount owed to the lender will still be the original figure, and another means to pay this off will need to be found.  

Combinations of the two methods of repayment can be arranged, for example, where part of the overall mortgage is on a repayment option, and the other on an interest-only option.

Residential mortgages (but not Buy-to-Let mortgages) are regulated by the Financial Conduct Authority, which recently conducted a Mortgage Market Review.  The FCA believe that reforms introduced under this review will "deliver a mortgage market that works better for consumers and is sustainable for all participants" 2.  The main changes brought about by the review come into force on 26 April 2014.

Mortgage Providers

The mortgage market in the UK is enormous with a variety of different lenders offering products.   The Council of Mortgage Lenders is the UK trade association for residential mortgages.  It states that its "members are banks, building societies and other lenders who together undertake around 95% of all residential mortgage lending in the UK. There are 11.3 million mortgages in the UK, with loans worth over £1.2 trillion" 3  

Providers other than UK institutions also offer mortgages for the UK property market, such as offshore banks, for example in the Channel Islands and Isle of Man.  

Types of Product can search thousands of mortgage options for you in seconds.  We can show you the following types of mortgage products, and for each of these, a range of interest repayment options (see mortgage categories below).  Check that the product type you need is chosen on the query form.  

  1. Standard / Remortgage
  2. First Time Buyer
  3. Buy-to-Let 

  1. Remortgages

    Why do people bother to remortgage their home?  Well - there are lots of reasons that make it worthwhile, such as to release equity, consolidate debts, or fund home improvements.  Additionally, even if you don't need to use your house to get a new sum of money, because lenders' rates and offers change frequently,  if you've been with your current mortgage lender for a couple of years or more then it's very likely that you are not getting the best deal available.  Your mortgage payment may well be the biggest  monthly expense you have, so switching to a bettr interest rate can save you thousands of pounds in the longer term.  It makes financial sense to shop around, and find a more favourable rate.  We can help! Start searching here.  Remortgages

  2. First-time Buyers

    Unless you have a large bundle of cash squirreled away somewhere, as a first-time buyer you're going to need a mortgage to raise the funds to buy your first home.  It's a big step to take, and it's exciting viewing properties and visualising living in them yet the home-buying process can also be daunting given the amount of paperwork entailed dealing with lenders and solicitors, hoops to jump through and large sums of money involved!  Many providers offer incentives for first-time buyers to help them in the early years of their mortgage, thus allowing them to get a foot on the property ladder. takes the work out of shopping around for mortage deals for you, so you can better spend your time looking for the perfect pad! It only takes seconds to search our panel of trusted providers.   

  3. Buy-to-Let

    Buying to let is an investment in property where you buy with the intention of renting to someone else.  If you require a mortgage in order to raise the capital for the purchase then you have to take out a ‘buy-to-let’ mortgage which is different to a normal mortgage and not regulated by the Financial Conduct Authority.

Owning and renting out investment property means that you become a ‘landlord’ with legal responsibilities to your tenants, and for tax purposes you are classed as running a small business, even if you only have one buy-to-let property.  

    Tenancies are covered by the 1988  Housing Act, which gave  more controls for landlords over their properties with the introduction of the Assured Tenancy and Assured Shorthold Tenancy Agreements.  Whether you are a landlord or a tenant, you should familiarise yourself with the regulations under this Act4.  With the introduction of the Act, there was a recovery in the private rental sector, although this has taken a dip in recent times.  For great deals on Buy-to-Let mortgages search here.

Importantly, remember that as a landlord you will need to have various insurance policies in place.  Search for great deals on these here:

Landlord’s Insurance

Buildings Insurance

Mortgage Categories

  • Fixed
  • Discount
  • Tracker
  • Variable
  • Capped
  • Offset

Fixed Rate Mortgage

With a Fixed Rate Mortgage, what you pay each month is a fixed interest rate for a specified time period, regardless of any changes to national or provider interest rates.

Discount Mortgage

With a Discounted Mortgage you get a discount on the Standard Variable Rate (SVR) of interest for a specified time period.  The amount you pay each month will change if interest rates rise or fall.

Tracker Mortgage
A Tracker Mortgage has a variable rate linked to a prevailing rate, such as the Bank of England Base Rate5. The variable rate will be a set percentage amount above the relevant base rate for a specified time period.  The amount you pay each month will change if this base rate changes.

Variable Mortgage

With a Variable Rate Mortgage your monthly patyment will cahnge if interest rates rise or fall.

Capped Mortgage

A Capped Rate Mortgage means that your monthly payment is 'capped' at a set rate, but what you pay can be lower than this figure if the SVR is lower than the capped rate.

Offset Mortgage

Offset Mortgages allow you to link your mortgage with your savings, with the savings balance being used to reduce the amount of interest charged on the mortgage.   Your savings do not repay any of the mortgage, they just sit alongside it, and help to save you interest.  

Search thousands of mortgage options in seconds with to find the best one for you.


1 Council of Mortgage Lenders  - Mortgage Information.
2 Financial Conduct Authority - Mortgage Market Review.

3 Council of Mortgage Lenders - News.

4 Housing Act 1988.

5 Bank of England: Official Bank of England Rate.

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Mortgage Protection Insurance

Can cover your monthly mortgage payment in the event of you suffering an accident, sickness or unemployment.  You can obtain quotations for this valuable insurance from specialist mortgage protection companies here:

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