endowment mortgage, home loan uk

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The level of taxation rises according to the property/land price

The seller is legally required to answer these enquiries honestly! Prepares and sends a package of legal information and draft contract, setting out the main terms agreed, the names, price, special terms, and details of the legal ownership Requests a settlement figure for your mortgage and any other secured loans

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The capital amount is to be repaid at the end of the period agreed

APR may vary

It is normal for lenders to charge up-front fees in the form of booking and/or arrangement fees

Many flexible mortgages come without any Early Redemption Charge so the borrower is not ‘locked-in’ to any particular lender

A survey carried out by the mortgage lender should indicate what sum to insure

TYPES OF MORTGAGE There are essentially two different types of mortgage: Repayment only, (capital and interest mortgage) Interest only, (ISA, pension or endowment mortgage) Repayment only

An arrangement fee is typically charged on completion of the mortgage

DISADVANTAGES There may be financial penalties for making lump sum/overpayments into your mortgage account

Offers & Missives When you make an offer for a property you are only offering for the bricks, mortar and ground and the non-moveables

29% 2 year fixed fee free, no extended ties

ISA The Individual Savings Account (ISA) is a tax free method of saving