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You believe that the investment market over the period of your mortgage is likely to generate a cash surplus over and above that required to repay the mortgage

The lack of discipline in the monthly payment means the temptation is there to spend the money on other matters

This will prove handy at the time of making an offer

There may need to be further formal letters before both parties are in full agreement and your offer is accepted

For borrowers moving house regularly, this can result in little of the capital being paid off

There is no guarantee with this type of mortgage

Booking fees are often non-refundable, so if the mortgage applicant cancels the mortgage application before completion the fee will not be reimbursed

Again, if you have any concerns about this, your solicitor will be able to advise you

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

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%)

At this point a survey will need to be arranged so that a firm and informed offer may be made

Redemption Redemption of a mortgage is the process of discharging a mortgage by paying off the loan. Paying off a mortgage before the end of a mortgage term is referred to as ‘early redemption’ or ‘early repayment’ and may incur an early redemption fee. This fee may be as much as six times your normal monthly payments. There is a greater chance of incurring these fees when redeeming in the first 1-5 years of the mortgage term Residential Leases Can either be short term (typically six months or one year) or long term. A long-term lease can extend as long as 999 years. The length of the lease will affect the value of a property. If it is a short lease or anything much less than 100 years, this will be reflected in the value of the property This means that some short term leases can be seen as very good value, but effectively become rentals.

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

They are usually covered by professional indemnity insurance, which means costs can generally be recouped if things go wrong

The surveyor will not inspect inaccessible parts of the property or areas which are not already exposed

The amount you repay the lender each month can be at a fixed interest rate for a certain period of time, regardless of the interest rate in the market place

Tree preservation orders

One other factor on which there is a debate as to how it will be treated is the aspect of adverse credit details

When viewing we always suggest taking someone with you for a second opinion as well as your own safety

The Act contains strict regulations about how money is lent and covers unsecured loans up to £25,000

Variable Rate Mortgages

Local authority searches Personal Searches Dependent on the local authority, searches can take up to six weeks

The Early Redemption Charge can represent a significant sum although the amount will differ between lenders and between products

The offer will have numerous conditions which are designed to ensure that you encounter no problems when you move into 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

Further fees such as arrangement fees are also frequently experienced with this type of rate