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Assuming your intentions to purchase are serious, it is vital to put in some preparation work to ensure you are taken seriously by an agent and seller

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

As a result the seller is in a stronger position and is likely to be less receptacle to any or significant price reduction

Normally a lender will ask you to establish a repayment vehicle for the loan at the outset although this is not always the case

Repayment mortgage With a repayment mortgage you repay, normally on a monthly basis over an agreed term, the money you have borrowed (known as capital) plus the interest charged by the lender

First Time Home Buyers Buying your first home can be a daunting proposition

Commonly a lender will require a non-refundable up front booking fee to be paid on application to reserve the mortgage

How much do these policies cost? Expect to pay around £5 for every £100 of your mortgage bill

Structural surveys are more appropriate for older homes where there is a greater potential for difficulties to arise

Advice on Affording a Mortgage

The philosophy behind this type of mortgage is that all your money reduces the outstanding balance on your mortgage, and, as the interest is calculated daily, your interest payments are correspondingly reduced

Another form of insurance is Mortgage Indemnity Guarantee

Imagine each room empty

on a particular day a borrower has a mortgage balance of £50,000 and has £2,000 held in the current account

Personal Possessions (including cash) on an all risk basis, in and outside the home

Disadvantages: In the first few years of the loan the largest proportion of your regular monthly payment goes to pay off interest – the balance outstanding is hardly reduced at all

We have a Support Team who can be contacted by telephone should you require any further assistance along the way

Are you tied into the variable mortgage rate and if so for how long? What redemption penalties will you incur if you were to pay off your mortgage early? Are any other fees involved? It is also generally worthwhile letting us talk to your existing lender to look at opportunities for obtaining better rates without moving the actual loan

A booking fee is paid to reserve funds on a mortgage product that has limited funds available e

ARLA - The The Association of Residential Letting Agents (ARLA) is a self-regulating body, which is solely concerned with lettings. In the event of unresolved disputes, the ARLA offers arbitration for landlords and tenants who use ARLA member firms. more info: http://www.arla.co.uk Arrangement Fee Sometime referred to as an Application Fee. The fee is an amount of moneylenders charge for arranging a mortgage. It may include administration costs and normally varies from one particular mortgage product to another.

Disadvantages: Generally you will be unable to obtain fixed, discounted, capped or cashback rates on flexible mortgages

These tax-free accounts were split into two main alternatives, the Mini individual savings account and the Maxi individual savings account, both of which can be utilised to repay an interest only mortgage

Not all buyers pull out as a result of the condition of property itself, but it is worth noting that further enquiries should be made as to the reasons for a previous buyer pulling out

2% fees-free offset mortgage

Bankrupt A Corporation, Firm or individual who, via a court proceeding, is relieved from paying all debts once assets have been surrendered to an appointed third party designated by the court