Mortgage Product Comparison Tool
Compare different mortgage types side by side - see features, benefits, costs and find the right product for you
How do I choose between different mortgage types?
The best mortgage type depends on your circumstances: Fixed rates offer payment certainty and protection from rate rises - ideal for budgeting. Tracker mortgages follow the base rate, benefiting from falls but rising with it. Offset mortgages reduce interest using your savings. Interest-only has lower payments but requires a repayment plan. Consider: how long you'll stay, your risk tolerance, whether you have savings, and if you can handle payment changes.
Select Products to Compare (up to 4)
2-Year Fixed Rate
Your rate stays the same for 2 years, regardless of what happens to the Bank of ...
Interest-Only Mortgage
You only pay the interest each month - the loan amount never reduces. You must h...
5-Year Fixed Rate
Your rate stays the same for 5 years, offering longer-term security and fewer re...
Discount Rate Mortgage
A discount off the lender's Standard Variable Rate (SVR) for a set period. Unlik...
Offset Mortgage
Your savings are linked to your mortgage - you only pay interest on the differen...
Tracker Mortgage
Your rate tracks the Bank of England base rate by a set margin (e.g., base rate ...
Standard Variable Rate (SVR)
The lender's default rate after your deal ends. No early repayment charges but u...
Side-by-Side Comparison
| Feature | 2-Year Fixed Rate | 5-Year Fixed Rate |
|---|---|---|
| Typical Rate Range | 3.5% - 5.5% | 3.8% - 5.8% |
| Example Monthly Payment | £1,390at 4.5% | £1,432at 4.8% |
| Rate Certainty | High | High |
| Benefits from Rate Falls | ||
| Protected from Rate Rises | ||
| Overpayments Allowed | ||
| Early Repayment Charges | Yes - typically 1-5% | Yes - typically 1-5% |
| Portability | ||
| Offset Savings Feature |
Pros:
- Complete payment certainty for 2 years
- Protected if rates rise
- Often lowest rates available
Cons:
- Miss out if rates fall
- Early repayment charges apply
- Remortgage every 2 years (fees)
Pros:
- Long-term payment certainty
- Fewer remortgage fees (every 5 years)
- Protected from rate rises
Cons:
- Usually slightly higher than 2-year
- Locked in if rates fall significantly
- Higher ERCs typically
Total Cost Comparison
Based on £250,000 over 25 years at example rates:
2-Year Fixed Rate
at 4.5%
Total paid: £416,874
Interest: £166,874
5-Year Fixed Rate
at 4.8%
Total paid: £429,748
Interest: £179,748
Note: These are illustrative calculations only. Actual rates depend on your deposit, credit history, and circumstances. Seek professional mortgage advice.
Best For Each Situation
First-Time Buyers
2 or 5-year fixed rates offer predictable payments while you settle into homeownership.
Risk-Tolerant Borrowers
Tracker mortgages can save money if base rates fall or stay low.
Those with Savings
Offset mortgages reduce interest while keeping savings accessible.
Buy-to-Let Landlords
Interest-only keeps payments low; capital repaid when selling.
Long-Term Homeowners
5 or 10-year fixed for stability and fewer remortgage fees.
Moving Soon
Short-term fix or tracker with no/low ERCs for flexibility.
People Also Ask
Get Personal Mortgage Advice
This comparison tool shows product types - but the best mortgage for you depends on your specific circumstances: deposit, credit history, income, and plans. Our advisers search the whole market to find the right product at the best rate for your situation.
Related: How to Compare Mortgages | Best Rates | Fixed vs Tracker | 2 vs 5 Year Fixed