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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

a) Inform the vendor/agent about the dilemma to see if an agreement can be made regarding a reduction in the sale price

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

Contrary to popular believe, lenders can be flexible

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

Should the lender determine that an inspection is required before releasing any further funds, this normally carries a small fee that will be deducted from the withheld advance

As a result a lender may restrict the amount they are prepared to advance or place conditions on the advance

Mortgage Protects Schemes If you lose your sole source of income, the reality is that you will not be able to rely on the State to help with your loan repayments

Many lenders now offer specialist buy to let mortgages that allow private landlords to fix their interest payments for five years or more, providing you with some security over mortgage funding costs

Suitability: An ISA linked mortgage is the most suitable option in a number of circumstances the most common being those identified below: This option is suitable for individuals willing to take some degree of financial risk

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

Overtime and commission may be treated similarly

However, it is often overlooked that you may approach the seller or agent to negotiate a shorter period

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

The philosophy behind this type of mortgage is that all your money reduces the outstanding balance on your mortgage, and, as the interest is calculated daily, your interest payments are correspondingly reduced

Until the seller receives these funds, the buyer may not normally have access to the property

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