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If you are obtaining a mortgage then your solicitor will need to prepare a Standard Security, giving your mortgage provider certain rights over the property

At the end of the policy term there will be a final one off bonus called the terminal bonus which may in some instances represent a large proportion of the borrowers final pay out

a first-come, first-served fixed rate

Your solicitor will also be checking the exact description of the property and any title burdens

The above mortgage products may have other criteria which will require evaluation before deciding if the product is suitable for an individual

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

A fixed interest rate will stay the same throughout the term of your loan, regardless of any changes in the bank base rate

First time buyers looking for security during the first few years of setting up home

Mortgage Intermediary A firm, organisation or individual, which helps you to choose a mortgage and introduces mortgage applications to lenders. Mortgage intermediaries are for example, mortgage brokers, estate agents, independent financial advisers, solicitors, accountants and life assurance companies. Their role is to search a range of lenders on your behalf for the best deal. Intermediaries usually receive a fee for arranging the mortgage

This is a relatively recent introduction into the market and allows you to put all your money in one place, including your savings, current account, credit cards, loans, and earnings

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

SVR - Standard Variable Rate Standard Variable Rate (SVR) - All lenders have their own Standard Variable Rate, which is largely determined by the base interest rate set by the Bank of England. The Standard Variable Rate of interest may increase or decrease from time to time.

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

Irrespective of movements in the interest rate your monthly payments will not change

In either case, having prepared the ground an agent will notice that you have put some work into sorting a few thing out, thus take you seriously

Ideally suited to the self-employed Individual Savings Accounts (ISA) Advice The Basics: Introduced in April 1999 individual savings accounts were designed to replace Personal Equity Plans

DISADVANTAGES There may be financial penalties for making lump sum/overpayments into your mortgage account

Lenders will also use credit reference agencies to obtain information about you

This is not an obligation to purchase the property

Free Valuation or Refund of Valuation A free valuation requires no up-front payment from the mortgage applicant whereas a refund will only be made when and if the mortgage application completes

- keeping them all in one place for when you need them

So as a rough ‘rule of thumb’ a capped rate is better to have than a fixed if all other factors are equal

If so, ask how they were damaged or why replaced

It is normal practice to specify in an offer exactly what moveables you want to ensure that these are included in the sale and that there is no room for miss interpretation

This is the rate that they apply to all their borrowers before making adjustments for any special offers that may be available at the time and should be examined in every case before making the final decision regarding the choice of lender

Generally this cost is being phased out in the market but you may still encounter this premium for loans above 80% of the house value

If you have any doubts check with the lender