You don't need to worry about LTV, you can pick your mortgage. Edlt : That's unclear. Because of the size of the loan relative to property value you don't need to worry.
With a mortgage of 50K you are pretty much going to have to pick a fees paid deal or at a stretch a very low fee one.
There's 3 basic mortgage types.
1) Fixed for x years, you know what you will pay. When it leaves the fixed rate you go onto the variable, no matter what it is, or you can fix again. Your interest rate can jump suddenly at the end.
2) Standard variable/no-tie tracker. You stay on this for as long as you like. If your LTV is high the standard variable is usually better, if it's low then the tracker is usually better. This is the cheapest mortgage over the long term. Your rate shouldn't jump as dramatically as a fixed rate will, however you don't have a date set in the future to prepare for
3) Time limited variable rate. Many trackers come in here, some banks call it a discount rate. Basically it's a variable rate with tie ins that lasts x number of years. These can be on a par with no-tie rates for cheapness, however the rate is variable during the term and at the end of it you're left on the standard variable and have to find a new one.
Does that help you Magic? From what you said I think you wanted a fixed?
