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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

The level of taxation rises according to the property/land price

Payment is either up front, or added to the overall loan

Cashback Mortgage Is a mortgage product, which provides a cash lump sum or a cash percentage of the mortgage amount to spend as you wish. The cashback amount is paid to the borrower shortly after completion.

CML - The The Council Of Mortgage Lenders is a trade association specifically for mortgage lenders in the UK and its members undertake around 98% of UK residential mortgage lending. It provides a service to mortgage lending institutions by helping to establish and maintain a favourable operating environment in the residential mortgage and related housing market.

£200 to a percentage of the loan e

Blind Bids This is only applicable to buyers in Scotland. If there is more than one party showing and interest in a property then each party will put in a sealed bid before a specified closing date. Often the bid is over the asking price and made only after thorough research and inspection into the value and condition of the property. (Consultation with a professional is always advised) By law the seller is under no obligation to accept any of the offers made, but usually accepts the highest bid. If for any reason the seller wishes to decline all of the offers made, perhaps due to low bid prices, then they can reject the offers and start anew.

Credit scoring assesses your personal circumstances and statistics to ascertain which broad category of borrower you fit in to

Each case should be taken on its own merits

(See Offers & Missives), so if you ANY doubts ask your solicitor for advice

It is possible that your investment may provide a surplus lump sum or pay off your mortgage early

Considering the current market conditions Excluding the property itself, the current condition of the national market is a significant factor in the process of negotiation

Variable Rate Mortgages

Popular in the late eighties and the nineties an endowment policy is a combination of two basic elements, namely a savings plan and a life assurance policy

Suitability: The repayment mortgage option is suitable in a number of circumstances the most common being those identified below: You do not like to expose yourself to too many financial risks

It is important to note that comment within the report is limited to those areas that are considered accessible at inspection

If for any reason your application is declined, may be able to direct your application to a provider who can help

Advantages: With the built in life assurance and in most cases critical illness insurance the overall cost is usually lower

Cashback mortgage A Cashback mortgage provides you with an amount of cash upon commencement of the mortgage

What limitations apply to your current mortgage rate

Homebuyers survey This is the most popular form of survey and is intended for use on conventional types of property

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

This can save hours of waiting on the phone trying to get to speak to your conveyancer

Receives mortgage offer and deals with all the conditions on your behalf

a 5 year discount with a 7 year ERC

Providing all payments are made in full, at the end of the term, no capital will remain outstanding

Compare mortgage rates to find your ideal mortgage, or see how much you could save by changing lenders and re-mortgaging

Normally a lender will require a non-refundable booking fee in advance to reserve this option