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Bridging Loan A bridging loan is a sum of money borrowed for a limited period of time to enable you to buy a new property before selling your old one. Interest rates charged tend to be higher than normal and a bridging loan shouldn’t be taken out lightly.

If you have no life assurance cover in place and die before the loan is repaid, the mortgage will still need to be repaid

Particularly furnishings and fittings,

Listing all the contacts involved in the move

The financial aspects of the purchase are often the most complex and it is therefore imperative that you receive specialist advice on the many diverse options available to you

The Act contains strict regulations about how money is lent and covers unsecured loans up to £25,000

By stating this you are not obligated to proceed until the conclusion of the survey and the exchange of signed contracts

Until the arrival of flexible mortgages most, if not all, UK lenders were charging interest on an annual basis which meant that borrowers making over-payments were not getting the benefit straight away because it could be a year before the capital was reduced by the over-payment

This means that a mortgage with, for example, a discount to 31st January 2006 will have a redemption charge to either the same date or a date prior to this

More detailed reports are also available for a small fee

Protecting the property itself against disaster and you in relation to the legal liability to the public are essential aspects to property ownership

However should rates decrease the borrower will benefit from lower payments

Either party is liable for legal action in breach of contract

These will be provided for in the initial agreement

Lenders may offer payment breaks or repayment holidays as part of their personal loan package and these allow you to take a break from your repayments at the beginning of the loan or at any agreed point during the term

Hence in this situation you are likely to stand a greater chance of obtaining a significant price reduction

Payment is either up front, or added to the overall loan

Most agents are pretty determined in their approach and will be interested in selling you more than a property