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Many flexible mortgages come without any Early Redemption Charge so the borrower is not ‘locked-in’ to any particular lender

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

Buy to Let Mortgages

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

The money is then paid back to the Lender over a fixed period of time together with accrued interest

It occurs when the seller accepts a higher offer from another buyer after already having accepted yours

We also hold the details of loans designed specifically for applicants with a poor credit history, and we provide the facility to apply online for these through moneysupermarket

A recommendation of the building/rebuild insurance cover required should also be given

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

The savings can be considerable although you have no protection against increases in interest rates and may find that an increase takes you over your budget

It is worth noting that the average property purchase price in the UK has now hit over £100,000

This means that a mortgage with, for example, a discount to 31st January 2006 will have a redemption charge to either the same date or a date prior to this

The amount borrowed is repaid monthly over a term agreed at the outset, which will usually range between three years and twenty five years

There are more properties on the market than there are buyers

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

Mortgage lenders require that neither the buyer nor the seller have a bankruptcy notice registered against them

Some sellers prefer to keep their property on the market until exchange of contracts so that if the transaction falls through, they have a back-up buyer

Financial charges relating to work undertaken by the local authority, such as road works or repairs to dangerous buildings

Legal Fees It is necessary to have a solicitor or licensed conveyancer to act on behalf of the mortgage applicant and the lender in the house purchase or remortgage transaction

The survey does not necessarily supply a property valuation, but it should highlight any defects that could end up costing a fortune to make good

See FAQs for more details

Are there any guarantees not held with the title deeds? i

Lockout agreements and contract races Preferable at the time of offer try to ensure that the agent and the seller agrees that higher offers will not be entertained (gazumping)

Written quotations are available on request

The most important fact about an interest only mortgage is that the monthly repayments do not repay any of the outstanding capital balance

However, try to include as much as possible in the negotiations

There is no guarantee with this type of mortgage

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

The typical cost is £50 to £100 and the search is conducted by a solicitor

The experienced agent is likely to be skilled in the art of negotiation and know what buttons to press

If you are refused a personal loan or wish to make enquiries concerning your own credit file, you can apply to the credit reference agencies for a copy of your credit file

The seasoned mover is likely to have learnt from past experiences to exactly that

A capped rate mortgage is very similar to a fixed except that if the variable rate drops below the capped rate, the borrower will make payments based on the lower variable rate

All lenders will have a set formula that they use to calculate the amount they will be willing to lend which is usually expressed as a multiple of your income