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

Conditional planning permissions granted

a 5 year discount with a 7 year ERC

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

Check it out and see how the neighbourhood is rated

There are more properties on the market than there are buyers

See FAQs for more details

Ask about the sellers position

Each case should be taken on its own merits

Alternatively, you may be seeking the security of a guaranteed mortgage rate which will provide peace of mind by ensuring that your monthly mortgage payments do not fluctuate

Preliminary Observations Ask about the cost of council tax and utilities with the seller

5%

The rate will also provide a buffer against increases in the interest rates

Location, location, location What local amenities are there? What are the local schools like? - A good school catchment area may effect property value

A single payment is made to your lender each month covering both the interest charged on the loan as well as the repayment of the outstanding capital

The customer is charged mortgage interest on £48,000 i

Understandably this is due to protecting their investment

This may reveal other factors that will not appear on any formal search

Stage 2 - Assessment of draft contracts This is the point at where both parties solicitors negotiate the deposit payable on exchange of contracts, the time between exchange and completion and any allowance by the seller to let the buyer have access to the property ahead of time

insurance and finance

The differential between base and pay rates remains constant for an agreed period and is normally far smaller than the margin on an ordinary variable rate

All mortgage lenders require a survey, some more thorough and detailed than others

As you would expect lenders apply an Early Redemption Charge with cashback mortgages

It is not permissible for holders of a Mini individual savings account to open a Maxi individual savings account and vice versa

Capped mortgage Capped mortgages have a limit to any increases in the variable rate, for a selected period of time

APR may vary

Title searches at the Land Registry will also be carried out

The philosophy behind this type of mortgage is that all your money reduces the outstanding balance on your mortgage, and, as the interest is calculated daily, your interest payments are correspondingly reduced

STEP 1 - WHICH LOAN? Unsecured personal loans are available for a range of different amounts and repayment terms

The offer will have numerous conditions which are designed to ensure that you encounter no problems when you move into the property

Cashback mortgage A Cashback mortgage provides you with an amount of cash upon commencement of the mortgage

Written quotations are available on request

There are limits applied to all contributions

Advice on Affording a Mortgage