When you're choosing a mortgage, make sure you know what's most important to you.
Do you prefer to plan your budget years in advance or go with the up and downs in the Bank's base rate? Maybe you're looking to pay off your mortgage early, or borrow more money as time goes on.
Take a look at the options see which type of mortgage suits you best.
Tracker mortgages are based on the Bank of England Base Rate plus a set percentage. If the Bank of England Base Rate rises or falls, so will your monthly mortgage payments. At the end of the tracker term you'll usually revert to the Isle of Man Bank Standard Variable Rate.
Want to know exactly what your monthly mortgage repayments will be? A fixed rate mortgage is ideal. Budgeting is easy, because whatever happens to interest rates, your repayments stay the same during the deal period.
A bridging loan is usually taken out to help you buy your next property if the sale of your existing property hasn't been completed. It can also be used to fund major refurbishments, or to buy a business. However, a bridging loan is only ever a short-term solution.
If you need additional money, you may be able to borrow more with your mortgage. You can borrow for home improvements or almost any other purpose and spread the repayments over the remaining term of your mortgage or repay the additional borrowing earlier.
Thinking of becoming a landlord? Buy-to-let mortgages help you build up a portfolio of investment property and many lenders also offer buy-to-let remortgages.