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The current options available to you in conjunction with interest only mortgages include endowment, pension or an Individual Savings Account (ISA) Advantages: There are a variety of investment vehicles available to use to repay interest only mortgages, some offering tax advantages

If it is going to happen then it is likely to occur between acceptance of your offer and exchange of contracts

This will result in situations where there is no method of paying off the mortgage and the lender will only become aware at the end of the mortgage term

Variable Rate Mortgages

Base Rate The standard rate of interest set by the Bank of England which all lenders generally follow.

Contents Insurance Home contents insurance protects your possessions against loss, damage and theft

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

Subject to your circumstances, you may be able to borrow up to 125% of the property value

It occurs when the seller accepts a higher offer from another buyer after already having accepted yours

Borrowers paying the Standard Variable Rate will have their payments increase or decrease as the lender adjusts the rate in accordance with market conditions

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

On your mortgage statement, normally received annually, you will see that the amount borrowed decreases throughout the term

Ask how long has the property been on the market and if there has been a price reduction

Only one Maxi individual savings account may be held in any one tax year

The valuation cost is likely to be at least £150 and becomes payable as soon as you wish to proceed with buying a property

Dealing with adverse valuations Adverse valuations occur in certain instances where the valuation figure is lower than purchase price of the property

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

It may be possible to renegotiate the price of the property taking into account to costs of any work required

Flexible mortgage Cashback Fixed Discounted Capped

Understandably this is due to protecting their investment

In most cases, it is simply not worth it

There are two main factors that influence the amount you are able to borrow

Imagine each room empty

APR may vary

The moving in day is likely to be one of the most memorable days in connection with the property, so we hope our planner goes some way in making your move more pleasurable

Financial charges relating to work undertaken by the local authority, such as road works or repairs to dangerous buildings

This method of repayment is the least risky and is often considered suitable if you want guaranteed repayment and prefer to see the amount owed to the lender decline each year

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