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Lenders may offer payment breaks or repayment holidays as part of their personal loan package and these allow you to take a break from your repayments at the beginning of the loan or at any agreed point during the term

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

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

99% 2 year discount, no extended ties fee free remortgage

The opportunity to take payment holidays without incurring large penalties

a £47,500 mortgage on a purchase price / valuation of £50,000 would result in a £750 charge on a typical MIG charge of 7

These will be provided for in the initial agreement

Although both may vary, a deposit of between 5% and 10% is common, as is completion 28 days after exchange

Using an ISA as a repayment vehicle is growing in popularity but due to the ISAs complexity it is only for the financially sophisticated or borrowers taking advice from a suitably qualified financial adviser

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.

More detailed reports are also available for a small fee

A recommendation of the building/rebuild insurance cover required should also be given

In particular, they provide details of county court judgements, defaults and any existing credit agreements, along with information relating to the electoral roll and your past credit history

Generally anything between 1 and 25 year fixed rates are available

The fixed payments are based on the amount of the loan together with the mortgage term and are designed so that, at maturity, the amount invested and earnings are sufficient to pay off the mortgage

Your solicitor should be able to advise you on the current search time

Discounted mortgage With a discounted mortgage, lenders offer a discount on the standard variable rate for a specified term

The seasoned mover is likely to have learnt from past experiences to exactly that