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This may be due to a number of factors, but mainly occurs due to the condition of the property

This acts as a ‘lock-in’ making an often heavy charge for borrowers paying off their mortgage early

Look out for fixed features in the garden such as greenhouse, garden sheds, birdbaths, statues etc

In return for an annual or monthly premium the insurance company will cover the cost of replacing or repairing an item that is lost, stolen or damaged

Absolute title Having absolute title on a property means that you have full rights and ownership relating to the property

Agricultural Covenant A planning covenant that allows the construction of a residential dwelling provided it is to be occupied by a person employed or associated with working on the land. Properties such as this tend to attract a lower value, as they can only be sold to another person in similar circumstance unless the covenant is lifted. Annual bonus A bonus paid annually on an endowment mortgage which is dependent on the performance of the investment fund you are using to repay your mortgage.

This means that all bank rates cuts are automatically passed on to the borrower

3% of the loan

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

Structural surveys are more appropriate for older homes where there is a greater potential for difficulties to arise

Most pension plans have the option at maturity to withdraw a percentage of the fund as tax-free cash

The skilled agent will ask a series of questions that determine how serious you are, what properties will be of interest, what else they can sell to you and how quickly they can do it

This is known as an Adverse Valuation and may occur due to any number of factors, but in most cases it is connected with the condition of the property

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

Our Mortgage Calculator will allow you to see how much you can borrow and the cost of your monthly repayments

Interest may still accrue on the balance outstanding so the exact terms should always be verified with the lender

Proceedings relating to any infringement of building regulations

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