ccj, london mortgage

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Assuming your intentions to purchase are serious, it is vital to put in some preparation work to ensure you are taken seriously by an agent and seller

Ask how long has the property been on the market and if there has been a price reduction

Ask about the reason for the sale

There has been a previous price reduction on the property

Suitability: The interest only mortgage option is suitable in a number of circumstances the most common being those identified below: You do not mind taking some degree of financial risk

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.

This may mean that you require a scheme which permits lumps sum payments to reduce the mortgage or may be seeking to combine both your current account and mortgage borrowings in the same financial product

The date and actual time of day of completion is quite specific and relies absolutely on the transfer of money

You stand to lose more than the property you had your heart set on as you may well have paid for surveys and searches, none of which will be refundable

They provide a detailed analysis of your financial position

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

Disadvantages: Unexpected increases in payments at term end

It occurs when the seller accepts a higher offer from another buyer after already having accepted yours

If it is going to happen then it is likely to occur between acceptance of your offer and exchange of contracts

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

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

Land Registry Fees Land Registry Fees are based on the purchase price of the property. The fee is effectively an administration charge for registering your ownership of the property and or land.

Normally just complete a form online and a price is given

Flexible Mortgages

If so, be bold and ask to see them

In return for an annual or monthly premium the insurance company will cover the cost of replacing or repairing an item that is lost, stolen or damaged

Tree preservation orders