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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

These may include 100% mortgages or a range of fixed or capped rate mortgages (see Mortgage Guide) unavailable to non-first time buyers

They are also generally linked to variable rates and so reductions in your mortgage payments in the early years may not be possible with this type of product

(Gazumping)

In addition lenders frequently apply an Early Redemption Charge (ERC) for fixed rate mortgages

A removal firm will normally supply a quote over the phone, based on the location your moving from and to

If you have no life assurance cover in place and die before the loan is repaid, the mortgage will still need to be repaid

This is not the same as the main deposit and is returnable if you pull out before exchange of contracts

In addition, borrowers will need a Contents Policy that provides cover for the contents, such as carpets, TV’s, furniture etc

A system of feudal tenure exists in Scotland, under which the seller has the power to impose permanent restrictions on the future use and development of the property and land

The proportion of UK housing stock taken by rentals stood at a low of 7% in 1989, but has grown to 11% in the ten years since

Disadvantages: Associated redemption penalties are restrictive

Advantages: Monthly payments can adapt to the level of monthly income you receive

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

It is the role of the solicitor or licensed conveyancer to note ownership of the property on the title deeds; note the lenders interest in the property; register with the Land Registry and conduct searches to identify if there may be factors which could affect the property e

Once the sellers conveyancer has received the funds, payment will be made to the sellers lenders to pay off any mortgage outstanding on the property

At Just we can complete a full analysis of the market using the most up to date information available

Individuals utilising short-term finance arrangements to provide their deposit

As a consequence of not being ‘locked-in’, the rate offered on these schemes will usually not be as competitive as for mortgages with redemption penalties, making them most suitable for those who are likely to keep track of current rates and wish to remortgage quickly if they find a better rate, or those who may have to repay their loan in the first few years

Personal Possessions (including cash) on an all risk basis, in and outside the home

Sewers and drainage

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

Booking fees are often non-refundable, so if the mortgage applicant cancels the mortgage application before completion the fee will not be reimbursed