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In such cases there are three possible routes of action that may be of help

Life assurance cover is not always necessary in taking out this type of mortgage

Garden Cover - While most buildings insurance provide cover for patios, paths and driveways

It may be the case that taking out a new loan with another lender offering better rates and terms is better than staying with your existing lender even if the redemption fee is wavered

TYPES OF MORTGAGE There are essentially two different types of mortgage: Repayment only, (capital and interest mortgage) Interest only, (ISA, pension or endowment mortgage) Repayment only

Disadvantages: Generally the rate will not be competitive in relation to the market

An arrangement fee is typically charged on completion of the mortgage

It is important to note that this is not an official search

Interest only

Without going into detail to explain this feature the up-shot is that over-paying the mortgage on a monthly or regular basis, even by a relatively small amount, will reduce your mortgage term by years (hence saving payments)

You will be kept up-to-date on the progress of your application by e-mail

Land Registry Fees Land Registry Fees are based on the purchase price of the property. The fee is effectively an administration charge for registering your ownership of the property and or land.

Whereas in Scotland, the survey is completed before making a formal offer

Other factors may well be involved

A previous buyer will only be too happy to get some of the costs back

First and most important: If you have a property to sell, obligation a free appraisal from more than one estate agent

Buy To Let Mortgage Buy To Let mortgages are taken out to buy a property for the sole purpose of letting as an investment.

Lenders are constantly providing new ways for borrowers to save money if they switch their mortgage from their existing lender to a new one

For example; It may be that the property is located on the local pub route and returning merry singers (or worse) could end up becoming a nuisance

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

Other advantages of flexible mortgages are that payment holidays can be taken during the year and extra funds are normally available via a drawdown facility

Preparing the ground to buy No one likes a timewaster and the professional agent will spot one a mile off

There are more properties on the market than there are buyers

It is important to note that you will still need to fund the shortfall in the advance at completion, albeit on a shorter term basis