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The initial pay rate would therefore be 3

The lender may permit over-payments and lump sum payments, which allow you to clear the loan over a shorter term than that agreed at the outset

If a person has a County Court Judgement against them it will have to be satisfied before they can get a mortgage

Gain an advantage view point of the roof - Does it bow or are there any tiles missing? Are there signs of any glass being recently replaced or damage to external doors? Possibly indicating signs of break-in

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It is worth noting that the average property purchase price in the UK has now hit over £100,000

There may need to be further formal letters before both parties are in full agreement and your offer is accepted

Title Deeds Title Deeds consist of a pack of legal documents, which a lender holds for the duration of the mortgage as security against the loan. The documents include who owns the legal title to the property and land, the results of solicitors’ searches and a map of the property with the legal boundaries defined.

Tracker Mortgage A Tracker Mortgage is linked to a benchmark interest rate, such as the Bank of England base rate. This is usually only for a set period of time. The rate you pay moves up and down in line with the benchmark selected. At the end of the set period, the Standard Variable Rate normally applies

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

Ask why the current owners are selling the property

This type of mortgage is often taken out in conjunction with other offers such as cashbacks

A number of these flexible mortgages may also offer the ability to operate your mortgage account as a bank account with the option to make withdrawals in certain circumstances

See below for more information about these features

The opportunity to access the investment proportion of your mortgage in the event of financial difficulties

ADVANTAGES At the end of the term, you are safe in the knowledge that the total amount of the debt has been repaid

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

Suitability: A cash back mortgage is the most suitable option in a number of circumstances the most common being those identified below:

First time buyers

The date and actual time of day of completion is quite specific and relies absolutely on the transfer of money

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

Borrowers with larger loans Remortgaging The Basics How we can help Information Required The Basics Becoming increasingly popular over the last ten years remortgaging is commonplace in today’s competitive mortgage market

The level of taxation rises according to the property/land price

In summary you will find numerous different methods of calculating the maximum LTV but the figure once stated is usually non-negotiable

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

Advantages: The only option with a 100% guarantee that the loan will be repaid in full at the end of the term

If for any reason your application is declined, may be able to direct your application to a provider who can help