There are different types of mortgages available:
Variable Mortgage (some are calling this a Tracker Mortgage now)
which are then broadly slotted into:
Capital Repayment Mortgage
Already I'm getting confused as to which is the best choice for me.
On the one hand, fixed vs variable interest mortgages seems to be the banks way of gambling - I don't see any banks offering variable mortgages where the rates may be expected to drop.
Also, it's interesting to see interest-only mortgages being sold, despite the endowment mortgage scandal that saw people unable to pay off their mortgage in the expected term. Isn't getting an interest-only repayment simply falling for the same trap?
I have to admit, I'm getting confused already - how on earth is anybody supposed to make an educated choice about what type of mortgage works best for them?