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Free Valuation or Refund of Valuation A free valuation requires no up-front payment from the mortgage applicant whereas a refund will only be made when and if the mortgage application completes

This type of mortgage is often taken out in conjunction with other offers such as cashbacks

With Profits – here the monthly premiums are pooled with other investors

Most mortgage schemes, in return for offering you a lower initial rate, will require you to stay with that scheme at least for the period of the Discount, Fix or Cap, and often longer

Suitability: A variable rate mortgage is the most suitable option in a limited number of circumstances the most common being those identified below: Individuals borrowing money over the very short term anticipating repaying the loan early and not wishing to incur redemption penalties on all or part of the loan

Borrowers who anticipate rising interest rates

Advantages: The fixed rate provides the security of knowing the exact monthly cost of your loan for a set period

Written quotations are available on request

The process of registration is usually conducted via a solicitor

Most lenders have a different name for this charge i

The key advantage is that you should be able to track the process of the purchase online

All lenders will insist on buildings insurance as the very minimum

Endowment ISA Plan Pension Endowment The most common type of interest only mortgage which also provides life assurance cover and a fixed payment for investment

This means that a mortgage with, for example, a discount to 31st January 2006 will have a redemption charge to either the same date or a date prior to this

Whilst practically the entire range of mortgage schemes are available to you with the exception of rates designed specifically for first time buyers, moving house may provide an excellent opportunity to consider what your future plans may be

A flexible mortgage linked to a current account

If you are considering protecting your repayments in the event of accident, sickness, unemployment or death, why not browse our Income Protection finder

If the property was purchased outright, the buyer keeps the deeds

The redemption fee payable is often up to six times the currently monthly repayments

Exposure to interest rate rises

The endowment is a long-term investment product, which should be held to maturity to get the maximum benefits

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

You stand to lose more than the property you had your heart set on as you may well have paid for surveys and searches, none of which will be refundable

Borrowers with new loans only get the interest paid after waiting for nine months

Payment is either up front, or added to the overall loan

ARLA - The The Association of Residential Letting Agents (ARLA) is a self-regulating body, which is solely concerned with lettings. In the event of unresolved disputes, the ARLA offers arbitration for landlords and tenants who use ARLA member firms. more info: http://www.arla.co.uk Arrangement Fee Sometime referred to as an Application Fee. The fee is an amount of moneylenders charge for arranging a mortgage. It may include administration costs and normally varies from one particular mortgage product to another.

Equally, you may consider whether the most suitable mortgage vehicle for the future would be a repayment or interest only mortgage (see our Guide to your Mortgage Repayment Options) and this may be related to the prospect of remaining in the same house for the remaining term of your mortgage

Not only will an estate agent take you more seriously, but the seller will feel more comfortable and have more confidence that you are not time wasting

Discounted Rate Mortgage

Why indexed linked? - As time goes by, the rebuild and repair costs of any property damage are likely to increase, thus if the sum insured does not rise in relation to these, you will end up being under insured