Applying for a mortgage can be a very stressful time for a person and it is important that you choose the best mortgage deal for you. Without research into what is on offer you could find yourself opting for a deal that is not right for you and your circumstances. Mortgages are a loan that is used in order to buy a house and the borrower makes regular monthly payments to pay off the loan amount, until eventually the full amount is paid and the house belongs outright to the borrower.

If you are looking to apply for a mortgage and are unsure of where to get information on the best mortgage deals around look no further than Go Direct. Here you will find online tools to help you come to an informed decision about the type, size and term of your mortgage.

Many people assume that all mortgage are the same, but they are not and this is why it is so important to find the best mortgage deals. After all why apply for a mortgage that does not suit your financial situation and could leave you out of pocket? If you are unsure as to how to even begin searching for the best mortgage deals then you have come to the right place.

There are so many mortgages available right now all with different repayment terms and conditions, interest rates and offers such as cash back when you apply for them, so you do need to have an overview of what are the best mortgage deals. Here is a brief rundown of the kind of mortgages you can expect to choose from:

â?¢Variable rate mortgages â?? these are linked to the interest rate and will go up and down as the interest rate does. These are a good idea if you would like to pay less for your mortgage when the interest rate is low â?? however, be warned if the interest rate goes up so does your mortgage payment and you need to be able to make your repayments or your home could be at risk.

â?¢Fixed rate mortgages â?? these are the opposite of variable rate mortgages as the repayment amount is fixed. This fixed amount is often higher than the variable rate amount but borrowers have the peace of mind of knowing how much their mortgage payment is every month.

â?¢Interest only mortgage â?? these are mortgages where the borrow only pays off the interest on the amount borrowed. Although it can seem like a good idea and can be cheaper than some of the other mortgages around in the long run you will only be paying the interest and not the equity in the property.

â?¢100% mortgages â?? these are mortgages for 100% of the propertyâ??s value and were popular up until recently. However mortgage companies are now cutting down on the number of 100% mortgages that they offer.

â?¢Joint ownership â?? these are mortgages where a housing company or local council own half of the house and the borrower owns the other half. Then repayments are split between the other owner and the mortgage company. This type of mortgage is good if you can only afford to borrow a small amount.

â?¢Buy to let â?? these are mortgages on properties that the owner intends to rent out and they work slightly differently to a â??standardâ?? mortgage.

If you are looking for the best mortgage deals the best place to check out is Go Direct who have the tools and advisors on hand to steer you through the minefield of choosing a mortgage that is right for you.