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The amount borrowed is repaid monthly over a term agreed at the outset, which will usually range between three years and twenty five years

Mortgages offering a 5 or even 6% cashback can be found which would mean a borrower taking a £70,000 mortgage would receive £4,200 on completion (at 6%)

If you do have difficulty making your repayments you should seek advice from your lender immediately

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

How we can Help Obviously prior to making any decisions comparisons from other providers should be obtained

Once all documentation is in order (after checking with you and your lender) the solicitor will send the title deeds for recording in the Register of Sassines or registration in the Land Register of Scotland

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

Popular in the late eighties and the nineties an endowment policy is a combination of two basic elements, namely a savings plan and a life assurance policy

A mortgage is a sum of money borrowed from a bank or building society in order to purchase a property

Including gas and electric suppliers and insurance companies etc

Lenders charge interest on the amount you borrow, which is referred to as the Annual Percentage Rate (APR)

With this type of mortgage, only the interest is paid off with each mortgage payment

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However should rates decrease the borrower will benefit from lower payments

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It is probably more suited to you if you do not mind this uncertainty and your budget can absorb an increase in interest rates or if you think rates will go down during the discounted period

There is potential for higher returns than endowments

Booking Fee and Arrangement Fee Both are up-front fees charges levied at the outset of the mortgage

The maximum limit is £1,000 (£3,000 in the current tax year) for stocks and shares and cash, with the insurance element being £1,000 immediately

(Typically £800) Avoid gazumping and contract races To help protect yourself from future disappointment, wasted time and expenditure, during the process of making an offer it may be worth trying to ensure that the agent and the seller agree that higher offers will not be entertained

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In such cases there are three possible routes of action that may be of help

APR may vary

The key advantage is that you should be able to track the process of the purchase online

A Guide to Secured Home-Owner Loans A secured loan is any loan that requires the borrower to provide the lender with some form of security

If you had planned on having any new furniture or appliances, order them now and if possible withhold delivery until you know exactly when you are moving in.

5% of the value of the property for your conveyancing