Which mortgage
is best for you?

How much do you want to borrow?

£

For how long?

Years

You would like to borrow £200,000 over 10 years

The table below has been updated, with the cheapest lending option at the top.  Please use the Visit Site buttons to apply, or re-enter loan information for another comparison.

For almost everyone, a mortgage is the largest loan they will ever take out. The price of buying a home is often more than a quarter of our lifetime earnings, and significantly more when mortgage interest is accounted for. While it’s usually possible to remortgage if our original deal doesn’t look so great any more, this doesn’t take away from the importance of getting it right the first time. After all finding a mortgage lender is a stressful process, which often involves one time fees and even rejections before a mortgage provider willing to fund your home purchase is found.

What is a mortgage?

A mortgage is a type of loan issued to purchase a property, usually by a bank or building society. The property can be new or old, a house or flat, mansion or studio. The majority of home purchases are made with one, as few people have the savings required the purchase their own home outright until they have built up equity by paying down a mortgage over a number of years. Unlike personal loans which are usually taken out between one and seven years, or payday loans which typically last up to a single month, a mortgage can last the majority of a lifetime. Fifteen, twenty five and thirty five year mortgages are common.

Interest only vs Repayment
While other forms of loans tend to be broadly similar, mortgages come in almost as many types as there are commercial lenders on the market. The first decision to make is if you want a repayment mortgage or an interest only mortgage. In most cases a repayment mortgage is the best option as interest only mortgages will leave you owing the lender the full price of your purchase when the loan expires. However interest only options can have benefits if you feel the lower monthly payments could lead you to invest in profitable ventures. Today few banks issue interest only mortgages to all but the wealthy due to the increased risks associated with this form of lending.

Fixed vs Variable

The second decision is whether you want a fixed rate mortgage, or one with a variable rate. Most fixed rate mortgages turn into variable rate mortgages at the end of a fixed term, which is usually between two and five years. Variable rate mortgages don’t mean that the lender can suddenly decide to hike up your rate, they simply refer to the Bank of England Base Rate which is the interest the bank itself pays to lend money from the government-linked Bank of England. Taking our a fixed rate is like placing a bet that the Bank of England Base Rate will rise, and therefore the increased rate charged for a fixed-rate mortgage will be less than what would be paid on a variable mortgage after an interest rate rise.

As we’re not all armchair economics, and probably don’t know better than bank experts, the main reason fixed rate mortgages are taken out however is more about ensuring that costs stay constant so we can better plan our lives. For instance if you are at the start of your career and take our a mortgage that takes up much of your wage, you might not want the rate to increase for several years so that you are not pressured into finding a better paid job if rates increase.

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ProviderRate TypeRepayment: £200,000
over 10 years
Initial RateInitial PeriodMax LTVProduct FeesUser Reviews
Tesco Bank
Fixed
£1,948.81
3.19%
then 4.34%
Until
60 Months
70%
£1300

Rated 3.6 / 5 by
by 19 users

Read Reviews

Representative Example:
Borrowing £200,000. During the initial period, your estimated monthly repayments would be: £968. Thereafter, the rate would revert to our variable rate, currently 4.24%, which equates to a monthly payment of £1082 The overall cost for comparison is: 4.0% APR

Virgin
Fixed
£1,958.10
3.29%
then 4.79%
Until
60 Months
70%
£995

Rated 4.3 / 5 by
by 20 users

Read Reviews

Representative Example:
Borrowing £200,000. During the initial period, your estimated monthly repayments would be: £979. Thereafter, the rate would revert to our variable rate, currently 4.79%, which equates to a monthly payment of £1145

Yorkshire Building Society
Fixed
£1,962.76
3.34%
then 4.99%
Until
60 Months
75%
£845

Rated 4.4 / 5 by
by 10 users

Read Reviews

Representative Example:
Borrowing £200,000. During the initial period, your estimated monthly repayments would be: £984. Thereafter, the rate would revert to our variable rate, currently 4.99%, which equates to a monthly payment of £1168. The overall cost for comparison is: 4.5% APR

Post Office
£1,973.04
3.45%
then 4.49%
Until
60 Months
80%
£1495

Rated 4.1 / 5 by
by 16 users

Read Reviews

Representative Example:
Borrowing £200,000. During the initial period, your estimated monthly repayments would be: £996. Thereafter, the rate would revert to our variable rate, currently 4.49%, which equates to a monthly payment of £1111. The overall cost for comparison is: 4.2% APR

Chelsea Building Society
Fixed
£1,976.78
3.49%
then 5.65%
Until
60 Months
75%
£1545

Rated 4.3 / 5 by
by 12 users

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Representative Example:
Borrowing £200,000. During the initial period, your estimated monthly repayments would be: £1000. Thereafter, the rate would revert to our variable rate, currently 5.65%, which equates to a monthly payment of £1246. The overall cost for comparison is: 4.9% APR

Leeds Building Society
Fixed
£1,976.78
3.49%
then 5.69%
Until
60 Months
75%
£800

Rated 4.4 / 5 by
by 11 users

Read Reviews

Representative Example:
Borrowing £200,000. During the initial period, your estimated monthly repayments would be: £1000. Thereafter, the rate would revert to our variable rate, currently 5.69%, which equates to a monthly payment of £1251. The overall cost for comparison is: 5.0% APR

Co-op Bank
Fixed
£1,990.86
3.64%
then 4.74%
Until
60 Months
75%
£999

Rated 4.6 / 5 by
by 9 users

Read Reviews

Representative Example:
Borrowing £200,000. During the initial period, your estimated monthly repayments would be: £1016. Thereafter, the rate would revert to our variable rate, currently 4.74%, which equates to a monthly payment of £1139 The overall cost for comparison is: 4.4% APR

HSBC
Fixed
£1,995.57
3.69%
then 3.94%
Until
60 Months
80%
£999

Rated 4.4 / 5 by
by 10 users

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Representative Example:
Borrowing £200,000. During the initial period, your estimated monthly repayments would be: £1022. Thereafter, the rate would revert to our variable rate, currently 3.94%, which equates to a monthly payment of £1049. The overall cost for comparison is: 4.0% APR

Natwest
Fixed
£2,010.68
3.85%
then 4%
Until
60 Months
80%
£995

Rated 3.9 / 5 by
by 13 users

Read Reviews

Representative Example:
Borrowing £200,000. During the initial period, your estimated monthly repayments would be: £1039. Thereafter, the rate would revert to our variable rate, currently 4.0%, which equates to a monthly payment of £1056 The overall cost for comparison is: 4.2% APR

Santander
Fixed
£2,010.68
3.85%
then 4.74%
Until
60 Months
80%
£1039

Rated 4.4 / 5 by
by 9 users

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Representative Example:
Borrowing £200,000. During the initial period, your estimated monthly repayments would be: £1039. Thereafter, the rate would revert to our variable rate, currently 4.74%, which equates to a monthly payment of £1139 The overall cost for comparison is: 4.6% APR

Nationwide
Fixed
£2,014.46
3.89%
then 3.99%
Until
60 Months
80%
£999

Rated 4.2 / 5 by
by 9 users

Read Reviews

Representative Example:
Borrowing £200,000. During the initial period, your estimated monthly repayments would be: £1044. Thereafter, the rate would revert to our variable rate, currently 3.99%, which equates to a monthly payment of £1055. The overall cost for comparison is: 4.1% APR

Britannia
Fixed
£2,014.46
3.89%
then 4.74%
Until
60 Months
80%
£999

Rated 4.4 / 5 by
by 6 users

Read Reviews

Representative Example:
Borrowing £200,000. During the initial period, your estimated monthly repayments would be: £1044. Thereafter, the rate would revert to our variable rate, currently 4.74%, which equates to a monthly payment of £1139. The overall cost for comparison is: 4.6% APR

Yorkshire Bank
Fixed
£2,023.95
3.99%
then 4.95%
Until
60 Months
75%
£999

Rated 4.6 / 5 by
by 7 users

Read Reviews

Representative Example:
Borrowing £200,000. During the initial period, your estimated monthly repayments would be: £1055 until 31/10/2019 Thereafter, the rate would revert to our variable rate, currently 4.95%, which equates to a monthly payment of £1145 The overall cost for comparison is: 4.7% APR

Clydesdale Bank
Fixed
£2,033.47
4.09%
then 4.95%
Until
60 Months
80%
£999

Rated 3.9 / 5 by
by 7 users

Read Reviews

Representative Example:
Borrowing £200,000. During the initial period, your estimated monthly repayments would be: £1066. Thereafter, the rate would revert to our variable rate, currently 4.95%, which equates to a monthly payment of £1163. The overall cost for comparison is: 4.9% APR

TSB
Fixed
£2,043.01
4.19%
then 3.99%
Until
60 Months
85%
£995

Rated 4.2 / 5 by
by 6 users

Read Reviews

Representative Example:
Borrowing £200,000. During the initial period, your estimated monthly repayments would be: £1077. Thereafter, the rate would revert to our variable rate, currently 3.99%, which equates to a monthly payment of £1055. The overall cost for comparison is: 4.0% APR

First Direct
Fixed
£2,052.58
4.29%
then 3.69%
Until
60 Months
85%
£1088

Rated 4.3 / 5 by
by 7 users

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Representative Example:
Borrowing £200,000. During the initial period, your estimated monthly repayments would be: £1088. Thereafter, the rate would revert to our variable rate, currently 3.69%, which equates to a monthly payment of £1022. The overall cost for comparison is: 4.0% APR

Halifax
Fixed
£2,062.18
4.39%
then 3.99%
Until
60 Months
80%
£995

Rated 3.8 / 5 by
by 10 users

Read Reviews

Representative Example:
Borrowing £200,000. During the initial period, your estimated monthly repayments would be: £1099. Thereafter, the rate would revert to our variable rate, currently 4.39%, which equates to a monthly payment of £1055. The overall cost for comparison is: 4.2% APR

Lloyds Bank
Fixed
£2,071.80
4.49%
then 3.99%
Until
60 Months
80%
£995

Rated 4.6 / 5 by
by 7 users

Read Reviews

Representative Example:
Borrowing £200,000. During the initial period, your estimated monthly repayments would be: £1111. Thereafter, the rate would revert to our variable rate, currently 3.99%, which equates to a monthly payment of £1055. The overall cost for comparison is: 4.4% APR

Whilst we make every effort to ensure that the information is up to date, you should always confirm the terms of the offer with the product provider.



5 most recent mortgage reviews

Review of Natwest

Terrible will never use again how can they value a brand new house £11000 less when other house in the new site have been agreed but will not challenge as sale is not complete as houses are not build yet. so imposable to challenge
All I ask is for them to send a different value out and I would even pay for it but no . Not even any help or advice it was just find the extra or go some where else. Guess what I doing. Time to move bank,Isa mortgage credit card pension to another bank after 30years.#kickintheteeth

Review posted by mick

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Tesco Bank

Online application for mortgage was told 2 day service arrangement. A week later no one has even looked at the case. To make things worse for anything other than a standard valuation the waiting time is 3 weeks. So we will loose the property and all upfront costs. What makes things worse when you contact customer service the reply is you need to have been waiting for two weeks before they can escalate. tesco, stick to supermarkets! Avoid at all costs unless you are not in a rush or expecting anything other than apalling service. Worth taking a slightly higher rate elsewhere!!

Review posted by Coylton

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Tesco Bank

I have been appalled with this so called bank. If I were you I would stick to the bigger banks or building societies. They can not do the simplest of tasks no matter how basic it is. Service is a complete joke despite the advisers being polite nothing gets done and no ownership is taken. Please stay away from their banking / mortgage services. Trust me you will regret it! You have been warned!

It has taken Husband and I over four months and just before we exchange on our property they forget to tell us our solicitor was not on their panel. Surely it should of been one of the first things stated. And when it gets referred to their panel of solicitors (at a cost to you) it doesn't get picked up at the other end and sits there for the best part of a month.

Once they realise their error they claim to treat things as a priority. However two weeks later we are still pushing for a tick list to be signed off. A complete waste of space.

Only one individual has actually admitted to the mistake but despite her best efforts nothing still is resolved.

Review posted by Begum

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Natwest

I have been a NatWest customer for close to 17 years.

My mortgage application experience was an absolute nightmare.. and still is.

I am in a rush to buy a property. I paid for a valuation report on the 17th of December 2015. The valuation was not carried out until the 31st December 2015.

When I eventually received my mortgage offer, there was no valuation report attached. My solicitor has all my paperwork ready, I have been ready to get to the exchange since the 1st of January... but my solicitor still does not have a copy of the valuation report though she now has the mortgage offer. I had to call Natwest up three times to finally get a copy of the valuation report which I then faxed over to my solicitor.

Now my solicitor has observed something confusing... the valuation report does not list any essential repairs. The mortgage offer says essential reports need to be carried out as a condition... so far so good. However, the valuation report says an electrical safety report is needed.. but it also says that this is a note for NatWest only... and the mortgage offer does not have any reference to that section of the valuation report as a condition on my mortgage... so now my solicitor is insisting I need to commission this report and I am insisting it's not in NatWest's terms and conditions.

When I call NatWest up I am told they will pass a massage onto the underwriters to call me... I have no desire to go through that again... that's what happened when I wanted a valuation report... and it only took me a month to get that from the underwriters.

I had been ready to exchange back at the start of January and now thanks to this late development I have to consider yet another report... why couldn't NatWest send me the valuation report in the first week of January (or better yet, middle of December if they'd done the valuation on time).

If I hadn't already invested a lot of time and money into this and the sellers weren't in a rush, I would pull out and find a different mortgage lender... I regret going with NatWest. Having banked with NatWest for so long I thought going with them would make life easier... nope... they even wanted to verify my address and so on all over again using bank statements (which are provided by natwest) and a credit card statement (which is provided by natwest).

I just wish NatWest would talk more between their departments and give loyal customers a little more attention... poor ratings from me... if you can at all avoid them, please do so. save yourself time and energy.

Review posted by Lukman Chowdhury

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Tesco Bank

Beware of Tesco mortgages!!!

I applied for a mortgage through their website and all seemed well, then they ask you for £195 deposit (which is non refundable) This was my first concern.

I thought they have decent rates and I have good credit, so carried on with the application.

They wanted wage slips and bank statements, which is fine, I sent these right away. It took them nearly 3 weeks to process them.

They then wanted more wage slips, because they weren't 'new enough'. (they were when they were sent)

They turned down my application saying I had been spending too much in the last 3 months.

That was that, 4 weeks messing you around, then no mortgage and your deposit taken.

The customer service staff are really nice and friendly, but the whole set up seems very unprofessional and slow for one of the countries biggest companies and I feel like I have been robbed.

I would advise people not too hand over any deposit, until you have a guarantee you'll get a mortgage offer.
If people stop giving them deposit money, they might start respecting their customers again.

Review posted by markb73

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money


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