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This rate is known as the Annual Percentage Rate (APR)

Each month therefore you make two separate payments, one to the lender and one to the investment you have selected to repay the loan

The seller is legally required to answer these enquiries honestly! Prepares and sends a package of legal information and draft contract, setting out the main terms agreed, the names, price, special terms, and details of the legal ownership Requests a settlement figure for your mortgage and any other secured loans

Often it may require obtaining quotations for any remedial work required to form the basis of any negotiation on price

They are not available for business purposes and some other uses may also be excluded, for example the purchase of timeshare properties

The area of self-certification mortgages is a relatively new one which is proving popular due to the changing working environment

This will vary between lenders and products

Title Deeds Title Deeds consist of a pack of legal documents, which a lender holds for the duration of the mortgage as security against the loan. The documents include who owns the legal title to the property and land, the results of solicitors’ searches and a map of the property with the legal boundaries defined.

Tracker Mortgage A Tracker Mortgage is linked to a benchmark interest rate, such as the Bank of England base rate. This is usually only for a set period of time. The rate you pay moves up and down in line with the benchmark selected. At the end of the set period, the Standard Variable Rate normally applies

Choosing a surveyor Reputable surveyors will confirm an instruction in writing with details of costs, qualifications and the nature of the instruction

UK Pensions Advice

If remedial work is required ask the owner if they have had any quotes

It simply informs the seller of your interest

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

The first of these relates to the current market value of the property to which the mortgage relates

Once the ruling has taken place it will be recorded against the persons credit history and will appear every time a credit search is done for the next seven years

Fixed rate mortgage The biggest advantage of a fixed rate mortgage is that, irrespective of fluctuations in interest rates, your monthly repayments remain the same throughout the period of the fixed rate

The fixed payments are based on the amount of the loan together with the mortgage term and are designed so that, at maturity, the amount invested and earnings are sufficient to pay off the mortgage

When lenders quote their APRs they will state whether these are typical or whether they are set at one rate for all successful applicants, regardless of the risk they present

Remember, it is your responsibility to get the correct sum insured

If any adverse comments on structure or conditions arise then it is wise to obtain quotations on any remedial work required

Assessments are generally made very quickly based on your personal circumstances

These are normally paid by bank or building society draft to ensure that they will be cleared in plenty of time for the date of entry

As a result the seller is in a stronger position and is likely to be less receptacle to any or significant price reduction

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!