UK Mortgage Types Explained 2026

Compare the main types of UK mortgages to find the best product for your circumstances. Each type has different rate structures, flexibility, and risk profiles.

Main Mortgage Types

• Fixed-rate — Your rate is locked for 2, 5, or 10 years. Best for budgeting certainty.
• Tracker — Rate tracks the Bank of England base rate ± a set margin. Moves with the market.
• Standard Variable Rate (SVR) — Lender's default rate after a deal expires. Usually the most expensive option.
• Discount — A set percentage below the lender's SVR for a fixed period.
• Offset — Your savings offset against the mortgage balance, reducing the interest charged.