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If you have a flexible mortgage, you may be able to vary the amount of the monthly repayment and you may be able to pay in or draw out lump sums

Solicitors require at least 7-10 days to release the necessary funds

There are more properties on the market than there are buyers

Possible diversion or closure of roads or footpaths

Whether the property is a listed building or in a conservation area

Suitability: A capped rate mortgage is the most suitable option in a number of circumstances the most common being those identified below: Individuals wanting more flexibility in terms of rate decreases than fixed rates but still wishing to limit the amount of their maximum monthly payments

Borrowers will normally have to build up a reserve through overpayments before being allowed to underpay or skip payments

Indeed with enough credit you can take a payment holiday

This is not the same as the main deposit and is returnable if you pull out before exchange of contracts

Hence an applicant paying for a valuation and then not proceeding due to, say, a poor valuation, will not have their valuation fee refunded

Self Certification Mortgages

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

the mortgage has to be held for a number of years before the lender breaks into profit

We are experts in finding mortgages and loans for people with a problem, or poor credit history

If so, be bold and ask to see them

If applicable, a redemption fee comes into effect when you repay/terminate the mortgage within the redemption term, as set out in your mortgage advance

If you are unsure, talk to local estate agents and solicitors

Plus the number of rooms in your existing home

It is likely that the first payment will be double the normal monthly payment due to the requirement to pay a month in arrears by most lenders

Portable Mortgages Some mortgage products are portable (subject to the lender’s policy), which means if you move home you may be able to transfer your existing mortgage onto the new mortgage for your new home if you stay with the same lender.

The most important fact about an interest only mortgage is that the monthly repayments do not repay any of the outstanding capital balance