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Pension Plan Life assurance cover is provided and monthly payments are made into a pension fund

Will your items be adequately insured during the move? Existing loan settlement figures If you already have a mortgage, do not assume that you have less owing than the amount originally borrowed

Insurers impose various get out clauses, so as with all insurance cover it is vital to check what is included (and excluded) in the cover

The capped rate has a maximum rate above which your loan will not be charged, however should the lenders variable mortgage rate fall below the level of the cap then you will still benefit from this rate

Arrangement fees are common on fixed and capped rate mortgages

It is still possible to have up-front charges for discounted products and an Early Redemption Charge is common

ADVANTAGES If the proceeds of the plans exceed the amount required to repay the mortgage, then this is received as a cash lump sum by the borrower

A previous buyer will only be too happy to get some of the survey costs back

Choosing the correct survey Choosing the correct survey depends on the requirements of the lender and the property itself

Anywhere between 1% and 12% cashback has been available

Under the terms of The Mortgage Code of Practice the lender will, before a mortgage applicant takes a mortgage, provide a tariff covering the repayment of the mortgage, including charges and additional interest costs payable in the vent of arrears and will advise of any other charges for services before or when the service is provided

Get advice on all types of loans, compare rates, or apply for a loan online

Below is a quick and easy guide to personal loans

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

However should rates decrease the borrower will benefit from lower payments

The seller needs to move fast

It is best to find out the sellers position during the viewing, having plied as much information from the agent beforehand

This is a comprehensive report that provides information on construction and materials used as well as major and minor defects

insurance and finance

Check to see if this applies with your lender or solicitor

The opportunity to access the investment proportion of your mortgage in the event of financial difficulties

As the discount is linked to the standard variable rate, the borrowers payments will increase, if rates rise – so there is no certainty in budgeting

FIXED CAPPED DISCOUNT VARIABLE Fixed Rate Mortgage

Areas to pay particular attention to in selecting your cover are: Cover for any accidental damage

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

Your mortgage lender will insist on a property survey before approving your mortgage

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

DISADVANTAGES If the proceeds of the repayment vehicle do not achieve the amount expected, then there will be a shortfall

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

This possibility alone was enough to dissuade many people from becoming private landlords in the past

You never know, it could be a deciding factor involved in your decision to purchase or not

5%

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.

Larger borrowings