Uk banks offer a wide range of mortgages. Interest rates used to be set by the government rather than the Bank of England and were a political tool until the la

Uk banks offer a wide range of mortgages. Interest rates used to be set by the government rather than the Bank of England and were a political tool until the late 90s. That added to uncertainty and pushed people to fixed mortgages. Then the era of low interest rates arrived and people were locked in to high fixed rate mortgages which had a fee to get out of. Now there are Australian type mortgages, basically repay as quick as you can, that are variable rate plus X. Or fixed and floating, or pure fixed. It generally depends on your personal position.