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In return you usually agree to pay the variable rate charged by the bank or building society, for a specified term

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

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

Gaining as much information about the reasons for the sale and the condition of the property will pay dividends later when making an offer

Negotiation with a lender is possible

Are they in a chain? How quickly do they want to move? Ask if the agent has a sole agency agreement Having been satisfied with your initial enquiries, it is now time to book a viewing

It may also give you a good indication regarding the seriousness of intent to sell

There are a number of limitations to the standard types of mortgages available if your income is erratic, for example if you are self employed or perhaps working on short term contracts

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

There are many different types of mortgages and there will be one out there that best suits you

Try not to widen your search in too much

If the property was purchased outright, the buyer keeps the deeds

Has the owner made any improvements? Do you have the relevant warranties? Does the property require much regular maintenance? Can you do it yourself or afford to get a professional? How much ground rent/service charges do you pay? (Leaseholds) How secure is the property, does it have an alarm? Has it ever been burgled? Ask about the neighbours

Suitability: An ISA linked mortgage is the most suitable option in a number of circumstances the most common being those identified below: This option is suitable for individuals willing to take some degree of financial risk