residential, home mortgage

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Ensure that your solicitor is aware of the survey and any other information you have learned about the property

Ability to benefit from rate cuts as they occur

Advantages: The only option with a 100% guarantee that the loan will be repaid in full at the end of the term

This is widely accepted as the most straightforward of the mortgage options

If you have a mortgage, the lender will insist that you take out this type of policy

Check for built-in appliances

A good starting point is to offer around 5% to 10% less than the asking price, although this greatly depends on market conditions

Understandably this is due to protecting their investment

TIP: Buyers should make note that they are responsible for the insurance of the property on exchange of contracts, not when you move in

The cost is usually dependent upon the type and size of property, but expect to pay between £300 - £800

STEP 1 - WHICH LOAN? Secured home-owner loans are available in varying amounts and for many different purposes, including debt consolidation

These may include 100% mortgages or a range of fixed or capped rate mortgages (see Mortgage Guide) unavailable to non-first time buyers

Location, location, location What local amenities are there? What are the local schools like? - A good school catchment area may effect property value

Offers are invited above the stated price

In either case the difference will need to be found before completion

There are some important facts to understand about the mortgage indemnity charge

The Act contains strict regulations about how money is lent and covers unsecured loans up to £25,000

Listed below are examples of some of the best deals around

To take advantage of the offer the mortgage applicant will normally need to use a firm of solicitors or licenced conveyancers nominated by the lender

The lender will offer a range of insurance, the problem being that you may be forced by lender to buy uncompetitive insurance to help recover the costs of a heavily discounted mortgage