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Interest only

INTEREST RATES ON MORTGAGES When you have chosen the right mortgage for you, whether it be a repayment or an interest only mortgage, you will need to consider the 4 main mortgage rate options available

OTHER TERMINOLOGY Adverse Credit If a borrower has a history of poor credit usage then this is described as Adverse Credit

Note, the fee is usually non-refundable

ISA The Individual Savings Account (ISA) is a tax free method of saving

Ask about the reason for the sale

Your solicitor will also be checking the exact description of the property and any title burdens

a) Inform the vendor/agent about the dilemma to see if an agreement can be made regarding a reduction in the sale price

Life assurance cover is not always necessary in taking out this type of mortgage

Not many of us are likely to do it, but it can give you a good idea of what your possible future neighbours may be like

Mortgage lenders are pretty strict on what kind of survey they require and who completes the survey

If significant defects are identified, the surveyor may suggest further investigation by an specialist

The Internet is an extremely useful tool, but as with anything else there are ways to get the best from it

You stand to lose more than the property you had your heart set on as you may well have paid for surveys and searches, none of which will be refundable

Flexible mortgage rates overcome this problem by allowing the borrower to make both over and underpayments into the account

It will not protect you to the same degree, but if speed is of the essence, it can save weeks

Each year the original capital sum will remain outstanding

Put the owner on the spot and see what reaction you get

It occurs when the seller accepts a higher offer from another buyer after already having accepted yours

If it is going to happen then it is likely to occur between acceptance of your offer and exchange of contracts

Advantages: The only option with a 100% guarantee that the loan will be repaid in full at the end of the term

Interest is far more likely to be calculated on a daily basis

Receives mortgage offer and deals with all the conditions on your behalf

Borrowers with larger loans Remortgaging The Basics How we can help Information Required The Basics Becoming increasingly popular over the last ten years remortgaging is commonplace in today’s competitive mortgage market