Mortgages explained

With so many different types of mortgage in the marketplace, you could be forgiven for not understanding all the different types of mortgage or for being confused.

The main differences in the types of mortgage can generally be applied to both repayment and interest only mortgage options - and they will affect the amount of interest you pay and for how long.  Each different type will be more or less suitable depending on your life stage and your personal circumstances so it's important you fully understand all the options out there and how they work.  Take time to read through this section before you feel comfortable that you've come to a choice on your mortgage type.

The different types of interest options and mortgages available will often be on special offer from different lenders.  Our advisers will be able to help you with this.

John Charcol is not authorised to offer investment advice.  We recommend you seek professional advice with regard to these topics if you believe they may affect you.

Terms & conditions

Your initial mortgage consultation is obligation free. There will be a minimum fee for our mortgage service of £450, of which £150 is payable when you apply, and we will retain the commission from the mortgage lender. Alternatively, you can choose the fee only option which is typically 0.65% of the amount borrowed. The precise amount will depend on your circumstances and mortgage loan amount, and will be discussed and agreed before you make a mortgage application.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT

Legals

John Charcol is a trading style of Towergate Financial (West) Ltd, which is authorised and regulated by the Financial Conduct Authority; our registration number is 147692. John Charcol Associates LLP is an appointed representative of Towergate Financial (West) Ltd, which is authorised and regulated by the Financial Conduct Authority.  Registered office: Towergate House, Eclipse Park, Sittingbourne Road, Maidstone, Kent ME14 3EN. Registered in England No: 02292688.  This mortgage site is only directed at persons within the UK.   The FCA does not regulate some investment mortgage contracts.  Calls may be recorded for training and monitoring. Max call charge from a BT landline is 3.9p per minute. Calls from other networks may vary.