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Suitability: A cash back mortgage is the most suitable option in a number of circumstances the most common being those identified below:

First time buyers

In this case all is not lost, other factors may come into play such as the sellers current position and reason for sale

The law on moveables is quite complex

First and most important: If you have a property to sell, obligation a free appraisal from more than one estate agent

TYPES OF MORTGAGE There are essentially two different types of mortgage: Repayment only, (capital and interest mortgage) Interest only, (ISA, pension or endowment mortgage) Repayment only

It may also give you a good indication regarding the seriousness of intent to sell

When viewing we always suggest taking someone with you for a second opinion as well as your own safety

First time buyers looking for security during the first few years of setting up home

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

At this point you will need to pay your share of the property purchase to your solicitor who will exchange this and the money from the mortgage provider for the Disposition (or Title Deed)

Repayment mortgage With a repayment mortgage you repay, normally on a monthly basis over an agreed term, the money you have borrowed (known as capital) plus the interest charged by the lender

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

Disadvantages: There are currently a relatively small number of lenders offering this type of mortgage at present

With this type of mortgage, interest may be calculated on a daily or weekly basis