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£200 to a percentage of the loan e

Possible diversion or closure of roads or footpaths

If the variable rate rose to say, 6%, then the rate payable would rise to 4

Alternatively the title deeds will be sent to the mortgage lender in the case of raising finance for the purchase

Lenders charge interest on the amount you borrow, which is referred to as the Annual Percentage Rate (APR)

Generally, secured loans are much easier to obtain than unsecured loans

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

This is not an obligation to purchase the property

We specialise in helping people who find it difficult to obtain a mortgage or loan

These are normally paid by bank or building society draft to ensure that they will be cleared in plenty of time for the date of entry

insurance and finance

The lack of discipline in the monthly payment means the temptation is there to spend the money on other matters

The lender may permit over-payments and lump sum payments, which allow you to clear the loan over a shorter term than that agreed at the outset

There has been a previous price reduction on the property

APR may vary

Disadvantages: Associated redemption penalties are restrictive

This search can take between four and six weeks although many councils process searches in two weeks

a £47,500 mortgage on a purchase price / valuation of £50,000 would result in a £750 charge on a typical MIG charge of 7

ADVANTAGES If the proceeds of the plans exceed the amount required to repay the mortgage, then this is received as a cash lump sum by the borrower

It is also worth pointing out that historically the returns on endowment policies have been pretty good (provided they go full term)

Location : Normally an agent will ask for a number of areas Do you need finance? If not how are you financing the purchase? Is it dependant on selling a property? If you have registered with an agent and your not getting any details

In the early years of a repayment mortgage the majority of the monthly repayment is interest rather than capital

This tends to be around £200 - £250 and becomes payable as soon a the reservation is made

This tends to be between £25 - £50 and may be avoided if enough objections were made

You should also receive a summary of the present state of the property along with any recommendations concerning future maintenance

At this point a survey will need to be arranged so that a firm and informed offer may be made

Absolute title Having absolute title on a property means that you have full rights and ownership relating to the property

Agricultural Covenant A planning covenant that allows the construction of a residential dwelling provided it is to be occupied by a person employed or associated with working on the land. Properties such as this tend to attract a lower value, as they can only be sold to another person in similar circumstance unless the covenant is lifted. Annual bonus A bonus paid annually on an endowment mortgage which is dependent on the performance of the investment fund you are using to repay your mortgage.