There are few things more exciting than being handed the keys to your new home. Buying a home and getting onto the property ladder can an important step toward eventually owning your own home and financial security. In fact, research for the BBC Two series, The Truth About Property, found 53% of respondents believed owning property is safer than cash as an investment.

It’s likely to have been quite a journey from spotting the perfect new house on a property website like Fish4 all the way to moving in. What were the most important steps along the way?

From house hunting, making offers, making home decisions, acquiring a quality contract, negotiations and home closings, it’s likely that the most critical consideration in making a success of buying a new home is the choice of mortgage.

With the right help, home buying is easier than you think.

There are numerous online resources with plenty of sage commentary for homebuyers such as the FSA website or BBC.co.uk business the world of mortgages is a veritable minefield. Perhaps the best advice though is to take the advice of an industry professional.

A visit to a professional broker or mortgages lender such as Natwest for example could save you paying thousand of extra pounds unnecessarily and avoid putting yourself at increased risk of falling behind with repayments, which could ultimately end in repossession and the loss of your home. A professional will also clearly explain financial industry terminology and references that so often confuses those not familiar with it.

Some of the most important considerations will address the differences between interest only and repayment mortgages. The most common type of mortgage is the repayment mortgage (capital and interest) whilst an interest only mortgage is a mortgage on which the monthly repayments go solely towards paying the interest on the loan. At the end of the mortgage term your full loan amount minus the interest is still outstanding so additional provision must be put in place to pay back the initial capital sum – a with-profits bond or other investment.

There are a variety of both fixed and variable rate products that you can choose from. Most options are variable rate such as standard variable rate mortgages (which is where interest rates can go up or down in line with the base rate set by the Bank of England), discounted variable rate mortgages, and base tracker mortgages. When interest rates fall your repayments will also fall. However, if interest rates rise, your repayments will also rise.

A fixed rate mortgage on the other hand is a mortgage on which the interest rate is fixed for a specified period depending on the lender and the particular product, normally for two, three, or five year fixed rate deals, after which the interest rate reverts to the lender’s standard variable. Longer deals are available though one should be cautious of becoming locked into an arrangement that stops being beneficial.

Clearly there are no concrete rules with regards to which mortgage to go for, as individual circumstances and needs vary. For example, interest only mortgages can be risky but for some might be the only realistically affordable option.

Fixed rate deals can offer increased financial stability, but will lock you in to rate for a certain period. If you wish to get out of the contract expect to pay financial penalties. Weigh up your options carefully and be sure to take the best and most experienced advice you can find.