People buying their first home often have specific needs when it comes to finding a mortgage. A range of mortgages exists specifically for this market sector.

Before you choose a specific deal, you need to decide what type of mortgage is the most appropriate for your needs.

Remortgaging means switching your mortgage to another deal with another lender without moving property.

These types of mortgages are designed for property investors and private landlords, who do not intend to live in the purchased property but will let property to tenants.

Equity release can help people release cash (equity) in their homes for a particular purpose, like supplementing retirement income.

A lifetime mortgage is not suitable for everyone, and it is important to seek financial advice before taking any action. All other options available should be explored before choosing equity release. Interest is charged on both the original loan and the interest that has been added, the amount you owe will increase over time, reducing the equity left in your home potentially to nothing. Please discuss with your family and beneficiaries.

Second charge loans can be secured against residential or Buy to Let properties.

A bridging loan is taken out to ‘bridge’ the gap between the purchase of a new property and the sale of an existing one.

These are mortgages suited to people building a new home. With a self build mortgage, money is released in stages as the build progresses.