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So make sure you get the facts

You can choose cover according to your needs

At the end of the fixed rate (or ‘benefit’) period the rate will normally convert to the lenders Standard Variable Rate (SVR)

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

Higher rate taxpayers may benefit from this option

First time buyers looking for security during the first few years of setting up home

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

Personal loans are repayable monthly

A flexible mortgage linked to a current account

This possibility alone was enough to dissuade many people from becoming private landlords in the past

It is vital therefore that you discuss this complex area with an adviser as in many circumstances a more competitive rate may be available form a lender who will be more sympathetic to your particular circumstances

Sometimes capped mortgages have a level below which interest rates cannot fall

Contrary to popular believe, lenders can be flexible

Usually this type of flexible mortgage will also calculate interest daily meaning that you will see an immediate impact of any overpayments that you make

There will usually be a required period of payment before protection will become available and some people may be excluded from its cover

Advantages: The fixed rate provides the security of knowing the exact monthly cost of your loan for a set period

The agent will be more willing to hand you properties that he can sell quickly or that are in greater demand

After completion, the buyer must pay stamp duty (if applicable) and must be registered as new owner with the Land Registry together with the details of any mortgage lender

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

A capped rate mortgage is very similar to a fixed except that if the variable rate drops below the capped rate, the borrower will make payments based on the lower variable rate

For a mortgage secured on a property, insurance may be required

If the variable rate rose to say, 6%, then the rate payable would rise to 4

The financial aspects of the purchase are often the most complex and it is therefore imperative that you receive specialist advice on the many diverse options available to you

damp and timber reports, planning consents for alterations and extensions

This could end up saving you time and money

This is referred to as a ‘redemption overhang’

linked with a discount, but pure cashback products are not uncommon

It is important to note that this is not an official search

Another form of insurance common in the mortgage industry is a Mortgage Payment Protection Plan

If added to the loan then interest is charged over the duration of the loan

As the discount is linked to the standard variable rate, the borrowers payments will increase, if rates rise – so there is no certainty in budgeting