The main types of mortgages are fixed rate and tracker/Variable.
Fixed rate mortgage – You’ll always pay the same amount each month as your interest rate is fixed for a certain period of time e.g. 2 years, 5 years etc.
Tracker/Variable mortgage – The amount of interest you pay can change so the amount you pay each month can also change too
You will need buildings insurance as a minimum. We recommend you take out the contents part of the insurance with that too).
There are other insurances that can protect you and your family from the unknown, such as life insurance, critical illness cover, income protection. Our advisers can talk through these different options so you can decide whether these might be right for you.