Looking at online mortgage quotes in the UK? You've come to the right place. You'd be surprised at the deals on offer. It depends on what kind of a credit risk you are. There are online mortgage quotes available, even to people with bad credit.

Many individuals with adverse credit quail at the idea that a sub prime loan company might approve their mortgage only on the condition of high interest rates. However, this is not as much of a drawback as you might think as long as the loan allows you to pay more than your monthly payment without penalty. You'll have a higher interest rate, but if you pay more per month than is required you can counter this to a degree.

Also, you will have a property of your own and that is worthwhile because you will be building equity. In addition to this, as long as you are careful and make your monthly online mortgage quote UK payment on time, every time, you will be able to enjoy the benefits of improving your credit.

TIP: Don't take out a Mortgage Indemnity Guarantee (MIG) - MIGs are now usually only charged on loans of 90% to value. A MIG is a one-off payment made to the company that protects them if you fail to keep up your repayments and your property has to be repossessed. If you can avoid paying for one, do, it will save you money.

TIP: When interest rates fall: Try and leave your repayments the same as prior to the rate drop. This means you will actually be paying more than the minimum each month. You'll repay your mortgage years sooner.

The more rates fall, the sooner you will repay your loan. You will have been paying at the higher rate, so if rates rise again later you may not have to change your repayment.

Online mortgage quotes UK are easy to find. However, not all of them may suit your needs.

There are (online) mortgages UK with fixed repayments and those that vary in line with the Bank of England Base Rate (BEBR)

Here is a simple guide to the different types of (online) mortgages available in the UK:

Discount: These mortgages offer a discount off the company's SVR. Although the initial rate may seem attractive, this is still a variable rate and could go up and down with the SVR, which will in turn move in line with the BEBR. Therefore, while your rate could drop, it could also rise. Regardless, you will revert to the SVR after the discount period.

Variable rate: loan companies usually change their Standard Variable Rate (SVR) in line with the BEBR.

TIP: An (online) mortgage company's SVR is high, which is activated after your intial low rate offer period is over.

Fixed rate: If you need your payments to stay at a fixed amount for a set period of time, usually two years, these types of mortgage are set for a short initial period, and usually revert to the company's SVR.

TIP: Some loan companies offer long-term fixed rates. If, however, rates were to drop very low indeed, you would miss out on big savings. There are also Early Repayment Charges (ERC) that tie you in.

If you think it's at all likely you'll want to change after a couple of years, avoid loan companies who impose ERCs (Early Repayment Charges), especially ERCs that go beyond the offer period or carry an overhang.

Many products with low introductory rates are likely to carry ERCs to discourage you from moving at the end of the offer period.

Capped: A capped mortgage offers a variable rate with a fixed 'ceiling'. It will not go above a set rate, even though your interest may move up or down with the base rate. This means your repayments will be kept down. Don't confuse the initial payment rate with the capped rate.

Tracker: These products are synchronised with the BEBR. A tracker will offer a set percentage above the BEBR and move up and down in in sync.

TIP: It could mean your rate and your monthly repayments could drop. However, if you're looking for reliability, this may not be the way to go.

Look out for the Annualised Percentage Rate (APR), which loan companies are obliged to give, which indicates the interest rate plus any other charges.

Anyone can set up an online mortgage quote UK info web site. But few can offer a reliable, trustworthy service. If they haven't got an office, or you can't get them on the 'phone, or they won't return your calls if you've got a problem with repayment, can you say you got a good deal, even if it was cheap?