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Flexible mortgage A flexible mortgage may enable the borrower to pay off all or part of their mortgage without paying a penalty

The plan holder can then draw a pension from the balance of the fund

On your mortgage statement, normally received annually, you will see that the amount borrowed decreases throughout the term

Especially if you are intending to take out a new loan or transfer your existing loan to another lender because they offer better rates or terms

This is a comprehensive report that provides information on construction and materials used as well as major and minor defects

Either party is liable for legal action in breach of contract

It is important to note that comment within the report is limited to those areas that are considered accessible at inspection

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

Liaises with relevant parties and negotiates a date for completion

Most recent mortgage statement or a redemption statement from your lender

Once your application has been submitted to us, either the service provider will send you an e-mail acknowledging your application

Insurance It is essential to take out the proper insurance and it must commence upon exchange of contracts

When registration is complete, the title deed to your lender for safekeeping

A buildings policy covers against storm damage, fire, flooding etc and relates to the fabric of the house or flat etc

Negotiating face to face can be a very effective tactic

Capped mortgages enable you to place a limit on your monthly mortgage commitment, plus they benefit from falls in interest rates

Gazundering Gazundering is when the buyer refuses to go ahead with the sale unless the price is reduced. There is nothing the seller can do about this apart from negotiate on the price or lose the sale - and possibly the house they are in the process of purchasing. In such situations any estate agent worth their salt will do their best to negotiate on your behalf, or failing that, will attempt to find you a suitable new buyer with all possible haste. Fortunately, it is rare to come across gazundering but in a slow housing market it is more likely to occur as prices may be falling.

Moving House & Your Mortgage Completing all the formalities involved with moving house can be an arduous task and as such many people choose to stay with their existing lender rather than seeking out a new deal for their amended mortgage

This is a fantastic time saver

Whether the property is a listed building or in a conservation area

Much depends on the agent, the seller and your confidence in your negotiation skills

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

This will prove handy at the time of making an offer

Lenders charge interest on the amount you borrow, which is referred to as the Annual Percentage Rate (APR)

If significant defects are identified, the surveyor may suggest further investigation by an specialist

Generally anything between 1 and 25 year fixed rates are available

Check the plumbing and wiring

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