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Unit Linked – Once again investors funds are pooled and then used to purchase units in stock market linked investments

Neighbours - are you inheriting a problem? During the process of creating the draft contracts the seller completes a questionnaire from their solicitor

During the early years you will find the charges in certain policies will eat into the premiums and reduce the amount you are accumulating towards the repayment of your mortgage

Redemption Redemption of a mortgage is the process of discharging a mortgage by paying off the loan. Paying off a mortgage before the end of a mortgage term is referred to as ‘early redemption’ or ‘early repayment’ and may incur an early redemption fee. This fee may be as much as six times your normal monthly payments. There is a greater chance of incurring these fees when redeeming in the first 1-5 years of the mortgage term Residential Leases Can either be short term (typically six months or one year) or long term. A long-term lease can extend as long as 999 years. The length of the lease will affect the value of a property. If it is a short lease or anything much less than 100 years, this will be reflected in the value of the property This means that some short term leases can be seen as very good value, but effectively become rentals.

INTEREST RATES ON MORTGAGES When you have chosen the right mortgage for you, whether it be a repayment or an interest only mortgage, you will need to consider the 4 main mortgage rate options available

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

The lender will offer a range of insurance, the problem being that you may be forced by lender to buy uncompetitive insurance to help recover the costs of a heavily discounted mortgage

Borrowers with new loans only get the interest paid after waiting for nine months

For peace of mind it may be appropriate to obtain a ‘Housebuyers Report’ or a ‘Full Structural Survey’

Bridging Loan A bridging loan is a sum of money borrowed for a limited period of time to enable you to buy a new property before selling your old one. Interest rates charged tend to be higher than normal and a bridging loan shouldn’t be taken out lightly.

An investor may only hold one of each Mini in any tax year

In many cases, lenders offer different rates depending on the method by which you apply

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

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

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

on a particular day a borrower has a mortgage balance of £50,000 and has £2,000 held in the current account

Typically a borrower will be locked-in for 5 to 7 years where a substantial cashback has been paid

Written quotations are available on request

Depending on the amount of loan and the LTV the Mortgage Indemnity Guarantee charge can be a significant cost e

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Disadvantages: There are currently a relatively small number of lenders offering this type of mortgage at present