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It may be that there is more or less demand on a certain type of property or particular estates/areas

Reductions or increases in the rate will result in a direct increase or decrease in the monthly payment to the lender

The period an Early Redemption Charge applies can vary

This means that a mortgage with, for example, a discount to 31st January 2006 will have a redemption charge to either the same date or a date prior to this

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

This means that all bank rates cuts are automatically passed on to the borrower

It should also be noted that whilst a Maxi has a single investment manager for all three elements the Mini ISAs will have an individual manager per element therein

Loans secured against property that is already mortgaged are known as second charges, whereas loans secured against a property owned outright with no existing mortgage in place are known as first charges

It simply informs the seller of your interest

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

Using an ISA as a repayment vehicle is growing in popularity but due to the ISAs complexity it is only for the financially sophisticated or borrowers taking advice from a suitably qualified financial adviser

Having difficulties obtaining a mortgage, because of CCJs, defaults, or arrears? We are experts in finding mortgages and loans for people with poor credit

Buyers should check carefully any property they wish to buy for such restrictions

They are also generally linked to variable rates and so reductions in your mortgage payments in the early years may not be possible with this type of product

Arrears This describes the amount the borrower is behind in his mortgage repayments schedule

Amendments to the 1988 Housing Act has reduced the fear of landlords that tenants, once admitted to the property, will prove all but impossible to evict

This is referred to as a ‘redemption overhang’

Be aware that making an offer may have legal consequences for you

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.

Some sellers prefer to keep their property on the market until exchange of contracts so that if the transaction falls through, they have a back-up buyer

It is worth noting that the average property purchase price in the UK has now hit over £100,000

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

Your lender agrees a set rate of interest for a specified period of time

The way lenders quote interest rates varies

The amount you repay the lender each month can be at a fixed interest rate for a certain period of time, regardless of the interest rate in the market place

Making an offer in its self is a simple process, but getting the price you want or simply securing your ideal home may require a bit more determination and skill on your behalf

The value of these holdings will alter on a daily basis and can go down as well as up

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Often mistakenly called an endowment mortgage, interest only mortgages are loans where the lender agrees to charge purely interest throughout the term of the mortgage