Mortgages are not as complicated as they seem. MoneyMonkey.co.uk has put together a simple guide to help guide you through the different types. Mortgages are simply a loan secured on a property, typically over a 15 or 25 year term, although this is flexible dependent on the provider and your individual needs. There are a huge number of mortgage providers who offer a variety of types of mortgage to suit your needs.

Use the search button above and we will explore hundreds of offers to seek out the best deals for you to ensure that you get value for money.

Capital and repayment mortgages – a traditional method guaranteeing to repay the mortgage at the end of the period, provided you keep up with repayments.

Interest only mortgages – mortgages are re-paid to the lender as interest payments. However, although you will have lower monthly repayments, the property will not belong to you at the end of the mortgage term. Interest only mortgages can be used for investment properties to take advantage of the long term capital growth of the value of the property. An investment can be used to run alongside the interest only mortgage in order to provide the capital sum needed to fully secure the property at the end of the term. However, as with all investments, care should be taken as values can fluctuate and you may not always get back what you expect.

Endowment linked mortgages – these were popular in the 1980's and 1990's but have been proven to be a poor method of repaying a mortgage. High charges, poor investment returns, widespread mis-selling and massive negative press have led to a boom in endowment mortgage compensation claims.

If you think you have been ms-sold an endowment, click here, we may be able to help you to claim compensation. Should you be considering selling your policy see our page on endowment selling.