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The flexible mortgage concept was imported from Australia so occasionally you may hear them referred to as ‘Aussie style mortgages’

Sometimes it will match the period of the discount/fix but often it can go beyond the benefit period e

Stamp Duty You are required to pay a Government tax (Stamp Duty) on a property priced above £60,000

Check the plumbing and wiring

linked with a discount, but pure cashback products are not uncommon

You may also speak to the seller directly

Obtaining quotes for conveyancing is simple

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

This is called a collar

The main benefit of flexible mortgages is that many schemes are offered on a Daily or Monthly Interest Calculation basis (sometimes referred to as ‘daily rest’ or ‘monthly rest’)

Be aware that valuations are just that - they are not a full structural survey

This may include: Accidental building damage, for example spilling paint down a wall or on your patio

12 weeks to go Try starting a notebook to record details

The seller is legally required to answer these enquiries honestly! But do they? We believe not always

Once the sellers conveyancer has received the funds, payment will be made to the sellers lenders to pay off any mortgage outstanding on the property

If you have no life assurance cover in place and die before the loan is repaid, the mortgage will still need to be repaid

They deal with surveyors every day and should be able to recommend a good one

You should also receive a summary of the present state of the property along with any recommendations concerning future maintenance

c) A combination of the above

Alternatively the title deeds will be sent to the mortgage lender in the case of raising finance for the purchase

Offers are invited above the stated price

Disadvantages: Holders of a Mini individual savings accounts cannot take out a Maxi, and vice versa

More information about endowments (which in the 1980’s and 1990’s were extremely popular), ISAs and Pension plans are below

Some lenders do offer cashbacks in conjunction with other offers such as discounts or fixed rates

Nonetheless millions of borrowers have one or more endowment policy and as a rule of thumb these should not be cashed-in early and certainly not before seeking advice from a suitably qualified financial adviser

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