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Flexible Mortgages

A standard policy will typically include such cover as loss or damage to your possessions while in your home, alternative accommodation to the value of 15% of the value of the sum assured

It should be noted that individual savings accounts are relatively new products and as with any piece of new legislation there is always some degree of uncertainty over its long term future

Usually calculated on a daily basis and added to the loan either monthly, quarterly or annually

STEP 1 - WHICH LOAN? Unsecured personal loans are available for a range of different amounts and repayment terms

This is an excellent option for the self employed

The differential between base and pay rates remains constant for an agreed period and is normally far smaller than the margin on an ordinary variable rate

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If for any reason your application is declined, may be able to direct your application to a provider who can help

Advantages: Generally, the rate charged will be lower than the variable rate applicable under a standard mortgage

The following planner will help focus on what needs be done and when

When viewing a property ask the question and try to establish a rapport with the seller

If added to the loan then interest is charged over the duration of the loan

Particularly furnishings and fittings,

There are more properties on the market than there are buyers

It is common for lenders to offer rates fixed for a period of 2 to 5 years, but shorter and longer periods can be found in the market

Surveys come in three forms: Valuations, usually undertaken by the lender

SVR - Standard Variable Rate Standard Variable Rate (SVR) - All lenders have their own Standard Variable Rate, which is largely determined by the base interest rate set by the Bank of England. The Standard Variable Rate of interest may increase or decrease from time to time.

In the longer term, with flexible mortgage rates, you should see the reduction of the amount owing occurring more quickly than a standard mortgage

Other advantages of flexible mortgages are that payment holidays can be taken during the year and extra funds are normally available via a drawdown facility

Individuals on tight budgets expecting wage increases over the first few years of the mortgage

At the end of the term, therefore, you will need to repay the capital

Any changes in the Bank of England base rate will be directly reflected in the monthly mortgage payments

Repayment Mortgages UK

This is a fantastic time saver

This is called a collar

Some sellers prefer to keep their property on the market until exchange of contracts so that if the transaction falls through, they have a back-up buyer

It is usually attributed to either the agent has been too pushy, the buyer has not put enough thought into what they really want or a professional timewaster is at work

Frequently individuals will move from job to job requiring alterations to be made to their retirement planning which may adversely affect their mortgage planning

Advantages: Cash payment may be useful to those utilising their savings as a deposit, to enable them to afford fixtures and fittings for the property