Mortgages
Applying for a mortgage or thinking about switching lenders? It can feel complex—but it doesn’t have to be. Mortgage Tek are here to support you on your journey.
We work with more than 120 mortgage lenders, including
What is a Mortgage?Â
A mortgage is a loan from a lender to help you buy a property or land. Typically you will repay the loan in monthly instalments with interest over a set period.
As the loan is secured against the property, failing to keep up with mortgage payments could result in losing your home
What is a Mortgage Term?
A mortgage term is the length of time you take to repay your mortgage, for example 25 years.
If you keep the same mortgage for the entire period. It’s important to note that a term is different from a deal period, like with Fixed or Tracker rates.
Your mortgage term depends on your budget and what you can afford to pay each month.
You can apply to change the term during the mortgage period
Lenders typically assess mortgage suitability by:
- How they believe you can afford to repay
- The value of the property being purchased
- The size of the deposit or lump sum you can contribute towards the property purchase
Types Of Mortgages
Understanding the different types of mortgages is key to choosing the right home loan—whether you’re a first-time buyer, remortgaging, or investing. By exploring each mortgage option, you can select the most suitable financing based on your income, property goals, and risk profile.
Fixed-Rate Mortgages
Fixed-rate mortgage
Fixed-rate mortgage, the interest rate remains the same for an agreed period, between two and five years.
As a first time buyer you have more stability and allowing for easier budgeting.
When the fixed period ends, you’ll typically switch to the lender’s standard variable rate (SVR) or chose a. New deal.
Standard Variable Rate Mortgages (SVR)
SVR interest rate is set by the lender, which can fluctuate. This means your monthly repayments can change, making it harder to predict your future payments.
Tracker Mortgages

Tracker mortgages follows the Bank of England (BoE) base rate. The interest rate is usually set a few percentage points above the BoE rate.
While this can be advantageous when interest rates are low, your payments will increase if the base rate rises, so ensure you’re prepared for potential rate hikes.
Discount Rate Mortgages
These mortgages offer a discount on the lender’s SVR. For example, if the SVR is 5% and the discount is 1%, your interest rate will be 4%. Although the discount stays the same, the SVR can change, which could affect your payments.
Capped Mortgages
Capped mortgages have a variable interest rate linked to the lender’s SVR, but there is a maximum limit (cap) on how high your payments can go, regardless of interest rate rises. These mortgages may not be as widely available.
Offset Mortgages
Offset mortgages link your savings account to your mortgage. The balance in your savings is used to reduce the interest you pay on your mortgage, potentially saving you money in the long term.
First Time Buyers
Explore the best mortgage options for first-time buyers. Get expert guidance, competitive rates, and step-by-step support to make your homeownership dream a reality
Buy-to-Let Mortgages
Find the best buy-to-let mortgage deals. Compare rates, calculate rental yields, and get expert advice to grow your property investment portfolio.
Remortgages
Switch to a better deal with and remortgage. Compare rates, reduce monthly payments, and release equity with expert support every step of the way.
Home Mover Mortgages
Moving home? Find the right mortgage for your next property. Compare rates, get expert advice, and make your move smooth with tailored home mover mortgages.
Contractor MortgagesÂ
Get tailored contractor mortgages with flexible criteria. Secure competitive rates and borrowing power based on your contract income, not just payslips.
Calculators
Use our free mortgage calculators to estimate repayments, borrowing limits, stamp duty, and more. Plan smarter and make informed decisions.
Why Choose Mortgage-Tek Mortgage Services
Get your right and on-point advice by our OMA-approved brokers. Working with Mortgage-Tek is simple and straightforward, here are the benefits we offer to our worthy clients.Â
FCA-Authorised & CeMap Qualified
Fully certified to deliver expert advice tailored to your needs.
Experienced in Niche Situations
Dedicated to Fairness
Expert advice
Time saving
Customised solutions
Frequently Asked Question
When is the best time to use a mortgage calculator?
The ideal time to use a mortgage calculator is at the beginning of your home-buying journey or when considering a remortgage.
It gives you a helpful estimate of how much you might be able to borrow, your possible monthly repayments, and the interest rates you could expect.
It’s fast and simple—completing it takes just 2 to 5 minutes.
Will using a mortgage calculator impact my credit score?
No, using our mortgage calculator or requesting an Agreement in Principle won’t affect your credit score.
A full credit check is only carried out if you decide to proceed with a formal mortgage application.
Can I check mortgage rates with the calculator?
Yes, you can use our mortgage rate finder to easily view the rates you may qualify for.
Simply tell us whether you’re a first-time buyer, moving home, or remortgaging from another provider, and we’ll display tailored mortgage options for you.
You can filter by term length and mortgage type to compare deals and find one that fits your needs.
Which mortgage calculator should I use?
The best mortgage calculator for you depends on your specific goals:
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Purchasing your first home
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Buying a property to rent out
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Remortgaging for a better deal
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Releasing equity from your current home
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Estimating your potential stamp duty costs
Choose the calculator that matches your situation to get accurate and relevant results.