Better mortgage and loan deals in the uk

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

Some short term discount products offer a ‘deep discount’ e

In addition lenders frequently apply an Early Redemption Charge (ERC) for fixed rate mortgages

Replacing any damaged, lost or stolen items on a new for old basis

Absolute title Having absolute title on a property means that you have full rights and ownership relating to the property

Agricultural Covenant A planning covenant that allows the construction of a residential dwelling provided it is to be occupied by a person employed or associated with working on the land. Properties such as this tend to attract a lower value, as they can only be sold to another person in similar circumstance unless the covenant is lifted. Annual bonus A bonus paid annually on an endowment mortgage which is dependent on the performance of the investment fund you are using to repay your mortgage.

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

This is referred to as a ‘redemption overhang’

When viewing a property ask the question and try to establish a rapport with the seller

(Gazumping)

This will prove handy at the time of making an offer

Preparing the ground to buy No one likes a timewaster and the professional agent will spot one a mile off

In this case the lender agrees to release the amount withheld over a staged period of time after satisfactory completion and in most cases inspection of the remedial work

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

Fortunately there are a number of mortgage deals promoted by lenders aimed specifically at first time buyers

External Observations Ask to see the garden and the garage

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