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

Ensure that you know how the settlement figure is made up

This method is designed to give you the opportunity to generate a cash sum sufficient to repay the outstanding mortgage capital at the end of the agreed term

Annual Versus Daily Interest Rate Calculations Some lenders offer mortgages with daily or with annual interest. The best option depends on your personal circumstances, for example if you know you will want to make overpayments or regular capital payments on your mortgage, you should probably consider a daily interest type mortgage. However, if flexibility of payment is not a requirement, annual interest may be more appropriate.

Most mortgage schemes, in return for offering you a lower initial rate, will require you to stay with that scheme at least for the period of the Discount, Fix or Cap, and often longer

Flexible mortgage Cashback Fixed Discounted Capped

The period of borrowing is in excess of say 12 years

The law on moveables is quite complex

This may reveal other factors that will not appear on any formal search

So as a rough ‘rule of thumb’ a capped rate is better to have than a fixed if all other factors are equal

5% on a normal lending limit of 75% loan to value

Redemption fees If you already have a mortgage on your existing property then it is possible that a redemption fee may apply

A standard policy will typically include such cover as loss or damage to your possessions while in your home, alternative accommodation to the value of 15% of the value of the sum assured

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

The flexible mortgage concept was imported from Australia so occasionally you may hear them referred to as ‘Aussie style mortgages’

A single payment is made to your lender each month covering both the interest charged on the loan as well as the repayment of the outstanding capital

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 Act contains strict regulations about how money is lent and covers unsecured loans up to £25,000

Individuals on tight budgets expecting wage increases over the first few years of the mortgage

Sometimes it will match the period of the discount/fix but often it can go beyond the benefit period e

Choosing a surveyor Reputable surveyors will confirm an instruction in writing with details of costs, qualifications and the nature of the instruction

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