Taking out a mortgage is probably the biggest financial undertaking you will ever make. Naturally, you will want to know which mortgages are the best ones. Happily, there is plenty of choice in the UK mortgage market, but with 3,000+ deals on offer, identifying which mortgage is best for you can be difficult.

Around 70% of borrowers consult a financial adviser or mortgage broker who can quickly scour the market and find out which mortgage is the most appropriate, given your financial circumstances, plans, attitude to risk and other preferences. Others arrange their mortgages via a lender's branch, over the phone or on the internet.

The most popular mortgage types in the UK tend to be fixed rates and discounted mortgages, and we take you through the pros and cons of these and the other mortgages on the market.

It is also important for you to understand the difference between repayment (or capital and interest) mortgages, and what mortgage type is best for you.

Regardless of what mortgage needs you have, it is important to establish upfront what mortgage type you are after, and whether you want to take it out on a repayment or an interest-only basis, as this will narrow down your search considerably. Even if you are planning to consult an adviser, it makes sense to understand the basics and have some idea of what mortgage type you want, before you meet with them.