One thing that applies to almost all types of UK mortgage is the choice of a fixed rate mortgage or one with a variable interest rate.

The best choice depends on your own circumstances and to an extent on interest rate levels at the time, but things to consider are:

• Can you afford to have your payments go up each month? This could happen with a variable rate mortgage.
  
  
• Are rates generally low at the moment? It could be a good time to get tied into a fixed rate mortgage.
  
  
• Do you want the security of a fixed monthly payment for several years? Fixed rate periods from 1 – 10 years are available.
  
  
• Are you having difficulty borrowing enough money? An interest only mortgage can mean lower monthly repayments ie you can borrow more against your salary. But there are drawbacks
  

To understand which option will suit your circumstances, discuss your options with a mortgage specialist, who will advise you on suitable choices.