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Irrespective of movements in the interest rate your monthly payments will not change

Just offer independent advice with regard to over 4,600 mortgage products

There are several factors that we will look at in detail and discuss with you the main items being: What limitations apply to the end of any product we are considering? Is there a lock in and if so for how long? What is the lenders variable rate – how does this compare? Is there any mortgage indemnity to pay? (Mortgage Indemnity is a premium paid to a lender in order to purchase an insurance policy against future loss

Mortgage Endowment Policies

Are you tied into the variable mortgage rate and if so for how long? What redemption penalties will you incur if you were to pay off your mortgage early? Are any other fees involved? It is also generally worthwhile letting us talk to your existing lender to look at opportunities for obtaining better rates without moving the actual loan

There can be a shortfall in the fund within your investment meaning the cost of your interest only mortgage may increase over the term or alternatively you may be left with an extra sum of money to find at the end of the loan

b) If you are able to afford the remedial work over a staged period after completion, then consult the lender or broker to discuss staged release payments

Advantages: The tax advantages of individual savings accounts allow you to receive tax-free returns

For more information see: Valuations and surveys Removal costs Removal costs vary according to whether your using a removal firm or doing-it-yourself

Depending on the amount of loan and the LTV the Mortgage Indemnity Guarantee charge can be a significant cost e

APR - Annual Percentage Rate An indicator which is used to compare rates of interest. It takes into account the costs involved in setting up the mortgage, any discount periods, how often interest is calculated and calculates what the average rate of interest will be over the term of the loan. All lenders that comply with the consumer credit act must ensure that the borrower is notified about the APR

Switching between provider can only be completed on an annual basis and penalties may be incurred

However should rates increase the payments will be ‘capped’ and will not rise over the capped rate

Mortgage in principle A mortgage in principle is a conditional offer made by the mortgage lender to confirm that they will in principle give you the loan you have discussed, provided the information you have given is correct

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