Types of mortgages

Last updated: 2026-07-26

The key choice is how the interest rate is set: fixed-rate (fixed for a set period, typically 2–5 years), tracker (variable, linked to the Bank of England rate), or variable/SVR (variable, set by the lender). A separate choice is repayment (paying off capital and interest) vs. interest-only (paying only interest, with capital repaid separately), plus the mortgage term, typically 25–35 years.

Status of this page

This page is part of the site’s initial skeleton. The summary above is a concise, fact-checked overview — the full, expanded version (with more examples, sources, and detail) will be added as part of the tasks in ISSUES.md (section M4 — Content).