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You believe that the investment market over the period of your mortgage is likely to generate a cash surplus over and above that required to repay the mortgage

Charges can be significant

Providing the product has a red apply icon, you can submit your application without leaving our site

Local authority searches Personal Searches Dependent on the local authority, searches can take up to six weeks

If the property was purchased outright, the buyer keeps the deeds

Unit Linked – Once again investors funds are pooled and then used to purchase units in stock market linked investments

YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOANS SECURED ON IT

You stand to lose more than the property you had your heart set on as you may well have paid for surveys and searches, none of which will be refundable

Advantages: The potential reduction in your level of borrowings means that over the entire term of your mortgage substantial savings can be made on your overall mortgage payments, or you may be able to pay the mortgage off early

Title Deeds Title Deeds consist of a pack of legal documents, which a lender holds for the duration of the mortgage as security against the loan. The documents include who owns the legal title to the property and land, the results of solicitors’ searches and a map of the property with the legal boundaries defined.

Tracker Mortgage A Tracker Mortgage is linked to a benchmark interest rate, such as the Bank of England base rate. This is usually only for a set period of time. The rate you pay moves up and down in line with the benchmark selected. At the end of the set period, the Standard Variable Rate normally applies

The purpose of the search is to discover if there are plans for nearby development that could potentially affect the property

All formal letters and missives go to create the contract

The elements incorporated within the plan include cash, stocks and shares as well as insurance elements

The policy is usually highly portable and allows free movement from lender to lender

OTHER TERMINOLOGY Adverse Credit If a borrower has a history of poor credit usage then this is described as Adverse Credit