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Amendments to the 1988 Housing Act has reduced the fear of landlords that tenants, once admitted to the property, will prove all but impossible to evict

Commonly a lender will require a non-refundable up front booking fee to be paid on application to reserve the mortgage

However should rates increase the payments will be ‘capped’ and will not rise over the capped rate

Disadvantages: Generally the rate will not be competitive in relation to the market

a 3 year fixed rate with a 5 year ERC

Reductions or increases in the rate will result in a direct increase or decrease in the monthly payment to the lender

However, if the variable rate drops below your capped rate, you will benefit as your repayments will be calculated using the lower variable rate

How we can Help Obviously prior to making any decisions comparisons from other providers should be obtained

If you want to continue, find out if the previous buyer had completed the searches or any survey

Once your application has been submitted to us, either the service provider will send you an e-mail acknowledging your application

Mortgage Endowment Policies

What other costs are involved in any remortgage scheme? What solicitors fees are incurred, valuation costs and set up fees? Once all this information is available you will be in a position to make an informed decision on how you might wish to proceed

Legal Fees It is necessary to have a solicitor or licensed conveyancer to act on behalf of the mortgage applicant and the lender in the house purchase or remortgage transaction

Replacing any damaged, lost or stolen items on a new for old basis

Are they in a chain? How quickly do they want to move? Ask if the agent has a sole agency agreement Having been satisfied with your initial enquiries, it is now time to book a viewing

Especially if you are intending to take out a new loan or transfer your existing loan to another lender because they offer better rates or terms

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’)

Choosing the correct survey Choosing the correct survey depends on the requirements of the lender and the property itself

There can be a shortfall in the fund within your investment meaning the cost of your interest only mortgage may increase over the term or alternatively you may be left with an extra sum of money to find at the end of the loan

However it is not necessarily the case that two lending institutions that have the same multiples available will lend the same amount of money to the same person

The Lender offers a discount on the Standard Variable Rate (SVR) for a specific period of time

99% 2 year discount, no extended ties fee free remortgage

Including gas and electric suppliers and insurance companies etc

Investment backed mortgage With this method you pay interest only to the lender and separately take out a suitable investment to repay the capital at the end of the mortgage term

The seller needs to move fast

Title searches at the Land Registry will also be carried out

Gazundering Gazundering is when the buyer refuses to go ahead with the sale unless the price is reduced. There is nothing the seller can do about this apart from negotiate on the price or lose the sale - and possibly the house they are in the process of purchasing. In such situations any estate agent worth their salt will do their best to negotiate on your behalf, or failing that, will attempt to find you a suitable new buyer with all possible haste. Fortunately, it is rare to come across gazundering but in a slow housing market it is more likely to occur as prices may be falling.

It is vital therefore that you discuss this complex area with an adviser as in many circumstances a more competitive rate may be available form a lender who will be more sympathetic to your particular circumstances

During the early years you will find the charges in certain policies will eat into the premiums and reduce the amount you are accumulating towards the repayment of your mortgage

Personal Possessions (including cash) on an all risk basis, in and outside the home

As a result a lender may restrict the amount they are prepared to advance or place conditions on the advance