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Loans secured against property that is already mortgaged are known as second charges, whereas loans secured against a property owned outright with no existing mortgage in place are known as first charges

So make sure you get the facts

ARLA - The The Association of Residential Letting Agents (ARLA) is a self-regulating body, which is solely concerned with lettings. In the event of unresolved disputes, the ARLA offers arbitration for landlords and tenants who use ARLA member firms. more info: http://www.arla.co.uk Arrangement Fee Sometime referred to as an Application Fee. The fee is an amount of moneylenders charge for arranging a mortgage. It may include administration costs and normally varies from one particular mortgage product to another.

Detailed below is a quick checklist of information we would suggest you have at your fingertips when considering moving your mortgage: What is your current interest rate? The amount of your monthly payments

Letting agents will on average charge 10% of the rental, or 15% if they are responsible for such things as repairs, complaints and other matters

Last but not lease a Structural or Building survey which are recommended for period homes or properties of unusual construction

Usually this type of flexible mortgage will also calculate interest daily meaning that you will see an immediate impact of any overpayments that you make

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

Requests your deposit

Note there is no guarantee that, when the endowment matures and ‘pays out’, the balance will be sufficient to repay the mortgage

12 weeks to go Try starting a notebook to record details

Areas to pay particular attention to in selecting your cover are: Cover for any accidental damage

The savings can be considerable although you have no protection against increases in interest rates and may find that an increase takes you over your budget

Some short term discount products offer a ‘deep discount’ e

The earlier you contact them, the more sympathetic they are likely to be

The most important fact about an interest only mortgage is that the monthly repayments do not repay any of the outstanding capital balance

There has been a previous price reduction on the property

As a result the seller is in a stronger position and is likely to be less receptacle to any or significant price reduction

will need to be addressed during this period of pre-contract enquires

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

Repayment mortgage With a repayment mortgage you repay, normally on a monthly basis over an agreed term, the money you have borrowed (known as capital) plus the interest charged by the lender

Capped mortgage Capped mortgages have a limit to any increases in the variable rate, for a selected period of time

There are two basic types of endowment policy – the with profits version and the unit linked version

The fixed payments are based on the amount of the loan together with the mortgage term and are designed so that, at maturity, the amount invested and earnings are sufficient to pay off the mortgage

Not only will an estate agent take you more seriously, but the seller will feel more comfortable and have more confidence that you are not time wasting

Capped Rate Mortgages

At least you then have the information regarding how the seller would rather proceed

It is common practice for lenders to pass this charge on to the borrower

In such cases there are three possible routes of action that may be of help

It will be based on settling the mortgage at that moment in time, so the final figure at completion/taking entry will vary marginally

Moving House & Your Mortgage Completing all the formalities involved with moving house can be an arduous task and as such many people choose to stay with their existing lender rather than seeking out a new deal for their amended mortgage