UK Mortgage Types 2026: Every Scheme Explained

Most UK mortgages are capital-and-interest (repayment) on a fixed-rate deal of 2, 3, 5, or 10 years - that combination is the default for around 80% of borrowers.

First-time buyer schemes in 2026 include the Mortgage Guarantee Scheme (95% LTV), First Homes (30% discount), Shared Ownership, the LISA bonus, and a few 100% LTV products like Skipton Track Record.

Family-assisted options (Joint Borrower Sole Proprietor, guarantor, deposit-free with parental security) let buyers borrow more than their income alone allows without parents physically gifting cash.

Specialist mortgages (buy-to-let, offset, self-build, bridging, retirement interest-only, lifetime mortgages) cover the edge cases that the mainstream market does not.