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If your instincts tell you to leave it alone

At the end of the policy term there will be a final one off bonus called the terminal bonus which may in some instances represent a large proportion of the borrowers final pay out

When viewing a property ask the question and try to establish a rapport with the seller

As a general guide, it is advisable to compare the APRs of different products as this will help you to determine how competitive they are

Individuals on a tight budget expecting wage increases over the first few years of the mortgage

Disadvantages: Holders of a Mini individual savings accounts cannot take out a Maxi, and vice versa

How long has it been on the market and have there been any price reductions? Ask about the general state of the property

If so, be bold and ask to see them

Making an offer in its self is a simple process, but getting the price you want or simply securing your ideal home may require a bit more determination and skill on your behalf

3% of the loan

Contrary to popular believe, lenders can be flexible

With this type of mortgage, interest may be calculated on a daily or weekly basis

Owing to the fact that pension plans have certain built in tax advantages they generally have the potential to achieve greater overall returns than an endowment policy might be expected to achieve

This may be due to a number of factors, but mainly occurs due to the condition of the property

5% of the value of the property for your conveyancing

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

This will contain a number of conditions and other requirements that your solicitor will discuss with you

The main benefit of flexible mortgages is that many schemes are offered on a Daily or Monthly Interest Calculation basis (sometimes referred to as ‘daily rest’ or ‘monthly rest’)

Investment backed mortgage With this method you pay interest only to the lender and separately take out a suitable investment to repay the capital at the end of the mortgage term

Capped mortgage Capped mortgages have a limit to any increases in the variable rate, for a selected period of time

This may significantly increase the chances of your offer being accepted

Especially if you are intending to take out a new loan or transfer your existing loan to another lender because they offer better rates or terms

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