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However, most vendors are reluctant to take the hit on the full amount

Other advantages of flexible mortgages are that payment holidays can be taken during the year and extra funds are normally available via a drawdown facility

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

Your monthly repayments consist of repaying the capital amount borrowed together with accrued interest

Mortgage Protects Schemes If you lose your sole source of income, the reality is that you will not be able to rely on the State to help with your loan repayments

Index Linked Buildings Insurance This type of insurance covers the main structure of your home (not the contents) and is required to protect you against the cost of rebuilding your home in the event of fire, flood or similar disaster

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%)

YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOANS SECURED ON IT

During the early years you will find the charges in certain policies will eat into the premiums and reduce the amount you are accumulating towards the repayment of your mortgage

Once contracts have been exchanged, bankruptcy searches on both the buyer and the seller will be carried out

Again, as with fixed rates, up-front charges and ‘lock-ins’ are common

No buyer should rely solely on the information provided by a mortgage valuation especially when purchasing a large or old property

Get advice on all types of loans, compare rates, or apply for a loan online

Irrespective of movements in the interest rate your monthly payments will not change

We also hold the details of loans designed specifically for applicants with a poor credit history, and we provide the facility to apply online for these through moneysupermarket

A good site will enable you to register your requirements and send you the latest property details by email

If you have no life assurance cover in place and die before the loan is repaid, the mortgage will still need to be repaid

Indeed with enough credit you can take a payment holiday

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

The cost of this is therefore to be taken into account when selecting a lender

This is not an obligation to purchase the property