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You do not mind taking some degree of financial risk

They are more expensive than the lenders valuation

In this, the seller agrees to a period during which they promise not to enter an agreement with anybody else

This can save hours of waiting on the phone trying to get to speak to your conveyancer

Equally, you may consider whether the most suitable mortgage vehicle for the future would be a repayment or interest only mortgage (see our Guide to your Mortgage Repayment Options) and this may be related to the prospect of remaining in the same house for the remaining term of your mortgage

Much depends on the agent, the seller and your confidence in your negotiation skills

You can also seek advice from a voluntary organisation such as The Citizens Advice Bureau

Any changes in the Bank of England base rate will be directly reflected in the monthly mortgage payments

Your monthly repayments consist of repaying the capital amount borrowed together with accrued interest

It is the role of the solicitor or licensed conveyancer to note ownership of the property on the title deeds; note the lenders interest in the property; register with the Land Registry and conduct searches to identify if there may be factors which could affect the property e

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.

Each year the original capital sum will remain outstanding

If so, your solicitor may be able to purchase these from the buyers solicitor which will save you waiting for the searches to be carried out by the local authority and possibly save money in the process

Are you tied into the variable mortgage rate and if so for how long? What redemption penalties will you incur if you were to pay off your mortgage early? Are any other fees involved? It is also generally worthwhile letting us talk to your existing lender to look at opportunities for obtaining better rates without moving the actual loan

Tree preservation orders

Last but not lease a Structural or Building survey which are recommended for period homes or properties of unusual construction

Generally these polices will be accepted as having the potential for greater and faster growth than the with profits but there is also the risk that they may not produce such a steady long-term return

It is important to note that comment within the report is limited to those areas that are considered accessible at inspection

Current Account Mortgage (CAM)

We are experts in finding mortgages and loans for people with a problem, or poor credit history

Moving House & Your Mortgage Completing all the formalities involved with moving house can be an arduous task and as such many people choose to stay with their existing lender rather than seeking out a new deal for their amended mortgage

The offer includes the purchase price, date of entry, alterations and specialist works together with any inclusions such as carpets and curtains etc

This will contain a number of conditions and other requirements that your solicitor will discuss with you

The agent will be more willing to hand you properties that he can sell quickly or that are in greater demand

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

where the loan is not much less than the value of the property, it is common practice for the lender to take out a form of ‘insurance’ to protect against some or all of the losses incurred if the property needs to be taken into possession because of serious arrears

Stage 2 - Assessment of draft contracts This is the point at where both parties solicitors negotiate the deposit payable on exchange of contracts, the time between exchange and completion and any allowance by the seller to let the buyer have access to the property ahead of time

In certain instances the valuation figure returned by the surveyor may not equal the purchase price

The lender will discuss the level of survey required, but at the very least will require a valuation of the property before agreeing to any mortgage advance

a 3 year fixed rate with a 5 year ERC