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Lenders now offer insurance policies that pay mortgage bills for around a year if you lose your job

Without going into detail to explain this feature the up-shot is that over-paying the mortgage on a monthly or regular basis, even by a relatively small amount, will reduce your mortgage term by years (hence saving payments)

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

The lender can give you a settlement figure, normally over the phone

Contents Insurance Home contents insurance protects your possessions against loss, damage and theft

damp and timber reports, planning consents for alterations and extensions

Loans secured against property that is already mortgaged are known as second charges, whereas loans secured against a property owned outright with no existing mortgage in place are known as first charges

In particular, they provide details of county court judgements, defaults and any existing credit agreements, along with information relating to the electoral roll and your past credit history

5% of the value of the property for your conveyancing

Hence an applicant paying for a valuation and then not proceeding due to, say, a poor valuation, will not have their valuation fee refunded

Receives search results and deals with any problems revealed

Stage 2 - Assessment of draft contracts This is the point at where both parties solicitors negotiate the deposit payable on exchange of contracts, the time between exchange and completion and any allowance by the seller to let the buyer have access to the property ahead of time

This form of insurance has become more important as the Department of Social Security has steadily withdrawn the benefits available

The seller needs to move fast

Buildings survey Also known as a structural survey

The key thing is to talk with your lender

The elements incorporated within the plan include cash, stocks and shares as well as insurance elements

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

Prior to making the decision to remortgage it is important to establish a number of basic facts or the benefit of your remortgage may be significantly reduced by penalties imposed by your current lender

When viewing a property ask the question and try to establish a rapport with the seller

Our Mortgage Calculator will allow you to see how much you can borrow and the cost of your monthly repayments

Advantages: Generally, the rate charged will be lower than the variable rate applicable under a standard mortgage

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A capped rate mortgage is very similar to a fixed except that if the variable rate drops below the capped rate, the borrower will make payments based on the lower variable rate