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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

Buy To Let Mortgages Buy To Let mortgages are taken out to buy a property for the sole purpose of letting as an investment. These are normally second mortgages. The rates charged on second mortgages tend to be about 0.5% to 1% higher than first-home mortgages, so it is likely that you will pay more for your loan on a Buy To Let Scheme. This is due to the nature of the loan, which is considered a higher risk for the lender. Lenders also tend to require larger deposits as most will lend only 75% of the property value though some may go as high as 85%. You are required to meet certain criteria, which vary from lender to lender, but fundamentally your application will be based on 1) Your income versus all existing loans. 2) The anticipated rental income covering a certain percentage of the loan interest payment. 3) Plus the normal credit checks etc.

Capped Rate Mortgages

If you want to continue, find out if the previous buyer had completed the searches or any survey

Compulsory purchase orders

Anywhere between 1% and 12% cashback has been available

Personal loans are repayable monthly

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

Commonly a lender will require a non-refundable up front booking fee to be paid on application to reserve the mortgage

Searches are often one of the major causes of time delay

A Guide to Secured Home-Owner Loans A secured loan is any loan that requires the borrower to provide the lender with some form of security

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

This is referred to as a ‘redemption overhang’

Making an offer in its self is a simple process, but getting the price you want or simply securing your ideal home may require a bit more determination and skill on your behalf

In either case, having prepared the ground an agent will notice that you have put some work into sorting a few thing out, thus take you seriously

DISADVANTAGES There may be financial penalties for making lump sum/overpayments into your mortgage account

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

To take advantage of the offer the mortgage applicant will normally need to use a firm of solicitors or licenced conveyancers nominated by the lender

Freehold A freehold gives the buyer complete ownership of the land and buildings on it. Freeholders can therefore do what they like with their property and land, subject to general law (particularly planning control) and to the lawful rights of others. The fact that a property is available as a freehold, usually adds to the value over that of a leasehold.

Has it been re-plumbed or rewired? If so, ask to see any certifications or guarantees Look for cracks, uneven floors or doorways and any signs of water damage

This can be attributed partly to the stress of the home buying procedure, but it can also be down to mortgage tie-ins where the lender insists on you taking out their insurance

This will prove handy at the time of making an offer

One other factor on which there is a debate as to how it will be treated is the aspect of adverse credit details

Possibility of losing out should interest rates fall below your agreed rate

In summary you will find numerous different methods of calculating the maximum LTV but the figure once stated is usually non-negotiable

So we know our specialist advisers can provide you with the mortgage that best suits your needs