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Ask why the current owners are selling the property

Current Account Mortgage (CAM)

They are usually covered by professional indemnity insurance, which means costs can generally be recouped if things go wrong

In addition the lender has no way of tracking some of the more modern repayment vehicles, such as an ISA, which will result in some instances where a borrower lets an investment lapse forgetting or not realizing it is to be used to pay off the mortgage

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

Most pension plans have the option at maturity to withdraw a percentage of the fund as tax-free cash

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)

Pension Plan Life assurance cover is provided and monthly payments are made into a pension fund

This is more likely to occur within the first 3-5 years of the mortgage term and with discounted, deferred or fixed mortgages

For a mortgage secured on a property, insurance may be required

This can be an indication of overpricing, adverse surveys or valuations and point to future difficulties in selling

Without going into detail to explain this feature the up-shot is that over-paying the mortgage on a monthly or regular basis, even by a relatively small amount, will reduce your mortgage term by years (hence saving payments)

Suitability: The repayment mortgage option is suitable in a number of circumstances the most common being those identified below: You do not like to expose yourself to too many financial risks

Most agents are pretty determined in their approach and will be interested in selling you more than a property

The interest rate can fluctuate and is not fixed at the initial rate of interest

The valuation does not represent a detailed inspection