Comparing Mortgages

As the biggest financial commitment you're ever likely to take on, finding the right mortgage couldn't be more important. Whether you're a first time buyer, looking to remortgage, or want to buy to let, using UK Net Guide's comparison tool provides a quick and easy way of finding the best offers available on a range of products, including fixed rate, tracker and buy to let mortgages.

Using the Comparison Tool

So that we can find the offers most relevant to you, it's important to know what you're looking for from your mortgage. Before comparing the various products available, click the grey box above the table labelled 'change criteria' and enter all the relevant information you can.

Next, use the tabs at the top of the table to select the type of mortgage you're interested in, for example, 'buy to let' or 'fixed'. This will bring up a selection of the products in that category that match your requirements.

There's much to consider when selecting a mortgage, and whilst some people will simply want the lowest rate possible, for others, securing the highest available loan-to-value ratio will be more of a priority. So you can make comparisons according to your own criteria, by clicking the heading of any of the table's columns you can arrange the results according to that variable.

Below we take you through the various factors we look at in our table along with an explanation of what they mean to you.

  • Provider: In this column you'll see the name of the institution offering the mortgage. Generally, these will be familiar names, such as high street banks, however, where appropriate we'll also include specialist providers.

  • Initial Rate: This column shows how much interest you'll be paying on the loan whilst the introductory rate applies. In the case of a fixed rate mortgage this is guaranteed to remain the same for a set period of time (typically two to five years) after which you'll start paying the lenders standard variable rate (SVR). With a tracker mortgage, your introductory rate will be set a certain amount above the Bank of England's base rate, and can therefore move up or down. Again, once this introductory period is over you'll start paying the lender's SVR.

  • Rate Until This column shows how long the initial rate will last and gives the SVR that you'll start to pay once that period has elapsed.

  • Overall Price for Comparison: This column shows what the APR on your mortgage will average out to over the life of the product, making it easier for you to compare providers whilst taking both their initial and standard variable rates into account.

  • Initial Monthly Payment: This column shows what you'd be paying each month whilst on the initial rate. Obviously, to calculate this figure it's important that you tell us how much you are looking to borrow, so remember to click the 'change criteria' box at the top of the table and fill in the relevant details, otherwise you'll be looking at repayment figures based on a default set of criteria.

  • Max LTV: This column shows how much the lender is willing to let you borrow in comparison to the value of the property the loan is secured against. So for example, if you wanted to borrow £120,000 to buy a £200,000 home, the loan-to-value ratio would be 60%. The higher the LTV the higher the risk from the lender's perspective.

  • Total Fees: This column shows the total amount you'll pay in fee's (such as arrangement and valuation fees). Note that these fees are not part of your repayments.

  • More Info: By hovering over the word 'info' with your cursor, you'll be given a host of additional information about the mortgage, including details of any early repayment charges and, most importantly, the actual cost of the mortgage taken as a whole.

  • Enquire: Click this button to begin the application process.