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Take note of the neighbours - Do they have overlooking views? Do they have pets, or caravans that may end up being a nuisance? Accept a tour by the owner or agent

Therefore, a reputable agent will forward all offers to their client even if these are made after an offer has been accepted

The valuation cost is likely to be at least £150 and becomes payable as soon as you wish to proceed with buying a property

Possibility of losing out should interest rates fall below your agreed rate

It is important to note that this is not an official search

It is probably more suited to you if you do not mind this uncertainty and your budget can absorb an increase in interest rates or if you think rates will go down during the discounted period

Fortunately there are a number of mortgage deals promoted by lenders aimed specifically at first time buyers

The moving in day is likely to be one of the most memorable days in connection with the property, so we hope our planner goes some way in making your move more pleasurable

The opportunity to take payment holidays without incurring large penalties

Neighbours - are you inheriting a problem? During the process of creating the draft contracts the seller completes a questionnaire from their solicitor

There are a number of limitations to the standard types of mortgages available if your income is erratic, for example if you are self employed or perhaps working on short term contracts

This is not an obligation to purchase the property

Searches - what they should highlight Your solicitor will carry out local searches to ensure that the property you are planning to buy does not have, for example, a road planned at the bottom of your garden, any compulsory purchase orders attached to it, or any local land charges adjacent to the property you are buying

Get advice on all types of loans, compare rates, or apply for a loan online

Free Legals or a Contribution Towards Conveyancing Costs More common on products aimed at the remortgage market but a frequent product ‘enhancement’

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

Providing a combination of the security of knowing the maximum monthly cost for a set period with the opportunity to take advantage of any downward movement in the mortgage rates, this is a popular choice for many borrowers

This final bonus is not guaranteed in any way

There are more properties on the market than there are buyers

Bridging Loan A bridging loan is a sum of money borrowed for a limited period of time to enable you to buy a new property before selling your old one. Interest rates charged tend to be higher than normal and a bridging loan shouldn’t be taken out lightly.

There are strict limits on the amount that can be taken as a tax-free lump sum, which can lead to a shortfall in certain circumstances

By stating this you are not obligated to proceed until the conclusion of the survey and the exchange of signed contracts

Preparing the ground to buy No one likes a timewaster and the professional agent will spot one a mile off

In many cases, lenders offer different rates depending on the method by which you apply

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

DISADVANTAGES There may be financial penalties for making lump sum/overpayments into your mortgage account

You only get this if you qualify for income support

Has it been recently decorated? Does it require any major work or modernisation? Ask what else is included in the sale

These are known as regulated loans

At the very least a mobile phone

Note, the fee is usually non-refundable

Generally, secured loans are much easier to obtain than unsecured loans