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The current options available to you in conjunction with interest only mortgages include endowment, pension or an Individual Savings Account (ISA) Advantages: There are a variety of investment vehicles available to use to repay interest only mortgages, some offering tax advantages

Cashback Mortgages

Without an appraisal, it is going to be difficult to plan ahead

The valuation does not represent a detailed inspection

Cashing in the plans early may result in financial penalties

Each case should be taken on its own merits

Booking Fee and Arrangement Fee Both are up-front fees charges levied at the outset of the mortgage

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

Investment managers may only be changed on an annual basis

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

The purpose of the search is to discover if there are plans for nearby development that could potentially affect the property

FEATURES AND OTHER BENEFITS OFFERED WITH MORTGAGES There are other key features and benefits to be considered when determining the best mortgage for a prospective borrower

It is not permissible for holders of a Mini individual savings account to open a Maxi individual savings account and vice versa

Irrespective of movements in the interest rate your monthly payments will not change

This may significantly increase the chances of your offer being accepted

It should also be noted that whilst a Maxi has a single investment manager for all three elements the Mini ISAs will have an individual manager per element therein

All mortgage lenders require an official search to be carried out

Searches are often one of the major causes of time delay

With discount mortgages borrowers need to watch out for ‘payment shock’

If applicable, a redemption fee will come into effect when you repay/terminate the mortgage within the redemption term, as set out in your mortgage advance

4 weeks to go Arrange buildings insurance for your new home to commence on exchange of contracts. Check that your home contents are adequately insured (transit insurance) during the move. Start to use up food from your freezer. Contact the telephone company to organise reconnection or installation of a line. Book time off work. Make special arrangements for pets and remember that they often find moving home stressful!

b) If you are able to afford the remedial work over a staged period after completion, then consult the lender or broker to discuss staged release payments

The surveyor will not inspect inaccessible parts of the property or areas which are not already exposed

YOU CAN APPLY FOR A LOAN WITHOUT LEAVING THIS SITE! the facility to apply online for your personal loan

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