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carpets and curtains, wall lamps, etc

If a person has a County Court Judgement against them it will have to be satisfied before they can get a mortgage

In such cases the lender may decline the advance, restrict the amount they are prepared to lend or place conditions on the advance

STEP 2 - HOW DO I APPLY? Lending institutions offer you the option of applying for your personal loan either in person at a branch, via a written application, over the telephone or online

Although both may vary, a deposit of between 5% and 10% is common, as is completion 28 days after exchange

APR may vary

The law on moveables is quite complex

Another form of insurance is Mortgage Indemnity Guarantee

It is normal practice to specify in an offer exactly what moveables you want to ensure that these are included in the sale and that there is no room for miss interpretation

Your local agent can give you a good idea here

The lender will offer a range of insurance, the problem being that you may be forced by lender to buy uncompetitive insurance to help recover the costs of a heavily discounted mortgage

This can be of great advantage in determining outline information before you go to the time and expense of having a survey and local searches made

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

When and how to talk to agents When to start taking to an agent about buying is entirely up to you

Contents insurance can provide cover for all your household contents - furniture, carpets, curtain, pictures TV, hi-fi, personal possessions etc

Negotiating face to face can be a very effective tactic

In England and Wales a survey is normally made after the offer has been accept subject to contract

Reductions or increases in the rate will result in a direct increase or decrease in the monthly payment to the lender

The above rates are a sample of the range of rates currently available and figures are correct at the time of going to the Internet

If significant defects are identified, the surveyor may suggest further investigation by an specialist

If the variable rate rose to say, 6%, then the rate payable would rise to 4

OTHER TERMINOLOGY Adverse Credit If a borrower has a history of poor credit usage then this is described as Adverse Credit

As the discount is linked to the standard variable rate, the borrowers payments will increase, if rates rise – so there is no certainty in budgeting

It is normal for lenders to charge up-front fees in the form of booking and/or arrangement fees

Demand for housing is higher than the property available

This is widely accepted as the most straightforward of the mortgage options

The money may only be drawn from a pension policy when the policyholder reaches retirement age

Completion Completion is the final stage of the mortgage process and occurs when the solicitor or conveyancer dealing with the purchase or remortgage is in a position to receive the mortgage funds. Daily Interest Here, the interest rate is calculated on a daily basis. By calculating and charging interest on the balance outstanding at the end of each day, you can get an immediate benefit from any payments of capital. Interest is compounded daily. It does however mean that if you miss or are late with any payments, interest will accrue immediately on the outstanding amount.

Mortgages offering a 5 or even 6% cashback can be found which would mean a borrower taking a £70,000 mortgage would receive £4,200 on completion (at 6%)

STEP 1 - WHICH LOAN? Secured home-owner loans are available in varying amounts and for many different purposes, including debt consolidation