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There are two basic types of endowment policy – the with profits version and the unit linked version

Title searches at the Land Registry will also be carried out

The Early Redemption Charge can represent a significant sum although the amount will differ between lenders and between products

Look out for fixed features in the garden such as greenhouse, garden sheds, birdbaths, statues etc

Information Required There are a number of common items that will be required in order to obtain a new mortgage and listed below are the most common: 3-6 months pay slips 3-6 months bank statements

Capped mortgage Capped mortgages have a limit to any increases in the variable rate, for a selected period of time

4 weeks to go Arrange buildings insurance for your new home to commence on exchange of contracts. Check that your home contents are adequately insured (transit insurance) during the move. Start to use up food from your freezer. Contact the telephone company to organise reconnection or installation of a line. Book time off work. Make special arrangements for pets and remember that they often find moving home stressful!

Examine these policies carefully

It is important to bear in mind that many lenders charge a small premium on self-certificated business to reflect the extra risk involved

Which way is the property positioned? East facing rooms will receive more sun in the morning; West-facing rooms will be brighter in the afternoon

Other advantages of flexible mortgages are that payment holidays can be taken during the year and extra funds are normally available via a drawdown facility

It is vital therefore that you discuss this complex area with an adviser as in many circumstances a more competitive rate may be available form a lender who will be more sympathetic to your particular circumstances

How long they been there and have there been any disputes? Internal Observations Does the property have central heating? If so, check when it was installed and last serviced

Suitability: A fixed rate mortgage is the most suitable option in a number of circumstances the most common being those identified below: Larger borrowings

This protects the lender in case you do not repay the loan and your home has to be repossessed

Booking fees are often non-refundable, so if the mortgage applicant cancels the mortgage application before completion the fee will not be reimbursed

If the variable rate rose to say, 6%, then the rate payable would rise to 4

Unless these payments are guaranteed then as a rule of thumb expect that 50% will be taken into account

Other Charges There are a whole series of other fees that some lenders apply in certain circumstances e

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

After completion, the buyer must pay stamp duty (if applicable) and must be registered as new owner with the Land Registry together with the details of any mortgage lender

3% of the loan