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

Check the plumbing and wiring

Insurance Lenders will insist that the property is adequately insured, with a suitable Buildings Insurance Policy, as it represents security against the mortgage debt

Plan and think ahead

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

Requests your deposit

Should the lender determine that an inspection is required before releasing any further funds, this normally carries a small fee that will be deducted from the withheld advance

APR - Annual Percentage Rate An indicator which is used to compare rates of interest. It takes into account the costs involved in setting up the mortgage, any discount periods, how often interest is calculated and calculates what the average rate of interest will be over the term of the loan. All lenders that comply with the consumer credit act must ensure that the borrower is notified about the APR

Generally anything between 1 and 25 year fixed rates are available

A previous buyer will only be too happy to get some of the survey costs back

We are completely independent and have access to every lender and product on the market

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

You are not looking for a guarantee of repayment at the end of the mortgage term

If you are mortgaging the purchase of your property then the lender will make it a condition that you take out their Mortgage Indemnity Insurance

As a result the seller is in a stronger position and is likely to be less receptacle to any or significant price reduction

Discounted mortgage With a discounted mortgage, lenders offer a discount on the standard variable rate for a specified term

The money is then paid back to the Lender over a fixed period of time together with accrued interest

- keeping them all in one place for when you need them

Until the arrival of flexible mortgages most, if not all, UK lenders were charging interest on an annual basis which meant that borrowers making over-payments were not getting the benefit straight away because it could be a year before the capital was reduced by the over-payment

For a mortgage secured on a property, insurance may be required

- Are school catchment areas, commuting or environment an issue? Contact a solicitor to access their quality of service