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Obtains the title deeds, which are normally held by the building society and asks you to fill in a detailed questionnaire

There are several factors that we will look at in detail and discuss with you the main items being: What limitations apply to the end of any product we are considering? Is there a lock in and if so for how long? What is the lenders variable rate – how does this compare? Is there any mortgage indemnity to pay? (Mortgage Indemnity is a premium paid to a lender in order to purchase an insurance policy against future loss

This is a relatively recent introduction into the market and allows you to put all your money in one place, including your savings, current account, credit cards, loans, and earnings

By stating this you are not obligated to proceed until the conclusion of the survey and the exchange of signed contracts

The amount provided by the investment product cannot normally be guaranteed

Ask how long has the property been on the market and if there has been a price reduction

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

The above rates are a sample of the range of rates currently available and figures are correct at the time of going to the Internet

The market conditions are in your favour (see details above)

Disadvantages: Generally rates for capped mortgages will be slightly higher than those of the fixed rate mortgages available, although this is largely led by market forces and has not been the case in recent years

The costs will be greater for house purchase than for remortgage

STEP 2 - HOW DO I APPLY? Lending institutions offer you the option of applying for your personal loan either in person at a branch, via a written application, over the telephone or online

It may be the case that taking out a new loan with another lender offering better rates and terms is better than staying with your existing lender even if the redemption fee is wavered

The flexible mortgage concept was imported from Australia so occasionally you may hear them referred to as ‘Aussie style mortgages’

Land Registry Fees Land Registry Fees are based on the purchase price of the property. The fee is effectively an administration charge for registering your ownership of the property and or land.

Arriving at the property Before knocking, take a few moments to observe your first impressions

conducts a local authority search to highlight planning, financial and other charges affecting the property

Tree preservation orders

Borrowers will be required to remain on the lenders variable rate of interest for a pre-determined period of time

STEP 1 - WHICH LOAN? Secured home-owner loans are available in varying amounts and for many different purposes, including debt consolidation

Outline Information is available free of charge, by entering a postcode

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

This means that a mortgage with, for example, a discount to 31st January 2006 will have a redemption charge to either the same date or a date prior to this

The cost can easily add over £1,000 to the total bill and is either paid up front or added to the overall loan

This form of insurance has become more important as the Department of Social Security has steadily withdrawn the benefits available

Total monthly payments will remain constant unless interest rates change, but as each year passes the capital part of the payment will increase as the interest element decreases

The investment vehicle is entirely portable and can be taken with you to a new lender no matter how many times you might move

Note, the fee is usually non-refundable

This is not an obligation to purchase the property

They should be included in the sale