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Variable rate mortgages Most lenders have a set rate of interest known as the standard variable rate which they adjust as the Bank of England increases or lowers interest rates

Has it been recently decorated? Does it require any major work or modernisation? Ask what else is included in the sale

For more information see: Searches - what they should highlight Land registration The Land Registration fee will cost from £40 to £800

Letting agents will on average charge 10% of the rental, or 15% if they are responsible for such things as repairs, complaints and other matters

This is usually linked to the amount of cashback provided

Check for built-in appliances

Other Benefits A whole range of other benefits can be applied to mortgages including the significant benefits of no Mortgage Indemnity Charge and no Early Redemption Charge

Mortgage Intermediary A firm, organisation or individual, which helps you to choose a mortgage and introduces mortgage applications to lenders. Mortgage intermediaries are for example, mortgage brokers, estate agents, independent financial advisers, solicitors, accountants and life assurance companies. Their role is to search a range of lenders on your behalf for the best deal. Intermediaries usually receive a fee for arranging the mortgage

Being hit by an unexpected redemption fee can put a serious dent into your finances

Homeowners with older mortgages only have to wait eight weeks to get half of their interest paid, and after 16 weeks they get it all paid

Blind Bids This is only applicable to buyers in Scotland. If there is more than one party showing and interest in a property then each party will put in a sealed bid before a specified closing date. Often the bid is over the asking price and made only after thorough research and inspection into the value and condition of the property. (Consultation with a professional is always advised) By law the seller is under no obligation to accept any of the offers made, but usually accepts the highest bid. If for any reason the seller wishes to decline all of the offers made, perhaps due to low bid prices, then they can reject the offers and start anew.

There is no reason why completion may not take place at the same time as exchange providing all the necessary conditions have been fulfilled

When viewing a property ask the question and try to establish a rapport with the seller

The seller in turn will most likely invite you to make an offer on or before a closing date

The amount available usually ranges from £500 to £25,000 over a term of 6 months to 10 years

A standard policy will typically include such cover as loss or damage to your possessions while in your home, alternative accommodation to the value of 15% of the value of the sum assured

Written quotations are available on request

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

Solicitors require at least 7-10 days to release the necessary funds

It may also indicate how genuine the sellers are

2% fees-free offset mortgage

However in the greater scheme of things it may prove worth paying as a more competitive insurance may be had elsewhere

5%

The Association of Residential Letting Agents (ARLA) says most landlords should be able to obtain gross rent equivalent to between 130% and 150% of the rental propertyıs mortgage repayments (interest only)

The seller needs to move fast

Self Certification Mortgages

A removal firm will normally supply a quote over the phone, based on the location your moving from and to

c) A combination of the above

For more information please see:: Dealing with adverse valuations Recently built homes Most new houses have a National House Building Council (NHBC) Certificate

First time buyers looking for security during the first few years of setting up home

APR - Annual Percentage Rate An indicator which is used to compare rates of interest. It takes into account the costs involved in setting up the mortgage, any discount periods, how often interest is calculated and calculates what the average rate of interest will be over the term of the loan. All lenders that comply with the consumer credit act must ensure that the borrower is notified about the APR