With so many different mortgage products available, it is difficult to know where to start. However, a wrong decision could end up being very costly.

Whilst the best course of action is to seek independent, professional advice, it also helps to know as much as possible about the types of mortgage available, which is why we have produced this guide.

Below is information on all different types of mortgages on the market at the moment. There are five different categories, however all mortgages are either repayment or interest only. Flexible, current account and offset mortgages are all variations on the traditional repayment mortgage. So your next step is to decide whether to take the repayment option or to go for an interest only mortgage.