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Switching between provider can only be completed on an annual basis and penalties may be incurred

A booking fee will normally be required with the application form

Many lenders now offer specialist buy to let mortgages that allow private landlords to fix their interest payments for five years or more, providing you with some security over mortgage funding costs

At this point you will need to pay your share of the property purchase to your solicitor who will exchange this and the money from the mortgage provider for the Disposition (or Title Deed)

This may have the effect of reducing the length of time it takes to repay your mortgage

Your solicitor will also be checking the exact description of the property and any title burdens

However it is possible to speed up the process by arranging a personal search

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

Prior to making the decision to remortgage it is important to establish a number of basic facts or the benefit of your remortgage may be significantly reduced by penalties imposed by your current lender

Indeed with enough credit you can take a payment holiday

The period of borrowing is for a short period (say less than 12 years) You are nearing retirement and want the security of guaranteeing the repayment of your mortgage

Interest Only Mortgage Advice

Before the exchange of contracts, you will have to agree on a date for completion of purchase

If you are unsure, talk to local estate agents and solicitors

To obtain a mortgage in principle you will need go through the same motions as applying for an actual mortgage

Booking fees are often non-refundable, so if the mortgage applicant cancels the mortgage application before completion the fee will not be reimbursed

Initial property enquiries This is where much time involved in selling and buying is wasted

This is widely accepted as the most straightforward of the mortgage options

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

Buy to Let Mortgages

Redemption fees If you already have a mortgage on your existing property then it is possible that a redemption fee may apply

on a particular day a borrower has a mortgage balance of £50,000 and has £2,000 held in the current account

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