flexible, home mortgage

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Offers are invited above the stated price

At this point you will need to pay your share of the property purchase to your solicitor who will exchange this and the money from the mortgage provider for the Disposition (or Title Deed)

Stage 3 - exchange of contracts A sale or purchase of property in England and Wales only becomes legally binding once the contracts have been exchanged

Before the exchange of contracts, you will have to agree on a date for completion of purchase

This method is designed to give you the opportunity to generate a cash sum sufficient to repay the outstanding mortgage capital at the end of the agreed term

The rate will also provide a buffer against increases in the interest rates

The moving in day is likely to be one of the most memorable days in connection with the property, so we hope our planner goes some way in making your move more pleasurable

In addition the interest rate charged is often lower than the usual Standard Variable Rates charged by the other more ‘traditional’ mortgage lenders

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

The APRs quoted by the lender will usually be typical rates, and these act as a guide only as the exact rate offered will be on an individual basis

All formal letters and missives go to create the contract

The Maxi individual savings accounts combine three basic elements in one plan, with a limit of £5,000 (£7,000 in the current tax year) being placed on the investment

conducts a local authority search to highlight planning, financial and other charges affecting the property

Title searches at the Land Registry will also be carried out

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

In the longer term, with flexible mortgage rates, you should see the reduction of the amount owing occurring more quickly than a standard mortgage

Suitability: A fixed rate mortgage is the most suitable option in a number of circumstances the most common being those identified below: Larger borrowings

OTHER FEATURES / CONDITIONS AND CHARGES ASSOCIATED WITH MORTGAGES Early Redemption Charge (sometimes referred to as a ‘redemption penalty’) Given that the mortgage market is very competitive many mortgages are sold as ‘loss leaders’ i

the mortgage balance minus the positive balance held in the current account