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The period of borrowing is in excess of say 12 years

More information about endowments (which in the 1980’s and 1990’s were extremely popular), ISAs and Pension plans are below

Base Rate The standard rate of interest set by the Bank of England which all lenders generally follow.

This may cover issues such as disputes with neighbours

Try also to avoid costly contract races where the seller accepts several offers and the first buyer to exchange contracts gets the property

Until the arrival of flexible mortgages most, if not all, UK lenders were charging interest on an annual basis which meant that borrowers making over-payments were not getting the benefit straight away because it could be a year before the capital was reduced by the over-payment

As a result a lender may restrict the amount they are prepared to advance or place conditions on the advance

Ensure that you know how the settlement figure is made up

Endowments provide life assurance so that in the event of death the mortgage is paid off

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

- keeping them all in one place for when you need them

Home Mortgage Rates

The inspection is limited to comparing the price being paid against similar property in the area and checking the general condition and location of the property

a first-come, first-served fixed rate

The typical cost is £50 to £100 and the search is conducted by a solicitor

However, it is often overlooked that you may approach the seller or agent to negotiate a shorter period