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

Another handy tip often overlooked or underrated is to check out the school run or office trips that you would normally take

You can also seek advice from a voluntary organisation such as The Citizens Advice Bureau

If remedial work is required ask the owner if they have had any quotes

The period of borrowing is in excess of say 12 years

On-line conveyancing On-line conveyancing is one of the latest improvements in the legal process of buying and selling

Structural surveys are more appropriate for older homes where there is a greater potential for difficulties to arise

Disadvantages: As mentioned above, any change in bank rates will be directly reflected in the monthly mortgage repayment so this type of mortgage provides no protection against any upward movement in interest rates (in contrast to fixed rate mortgages for example)

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

Although directly related to interest rates it can be slightly more expensive than the interest only options, even allowing for the investment vehicle payments

Customers cashing-in an endowment policy in the first few years after inception can receive less than the amount invested

There are a number of limitations to the standard types of mortgages available if your income is erratic, for example if you are self employed or perhaps working on short term contracts

Suitability: A cash back mortgage is the most suitable option in a number of circumstances the most common being those identified below:

First time buyers

This will prove handy at the time of making an offer

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

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

The main benefit of flexible mortgages is that many schemes are offered on a Daily or Monthly Interest Calculation basis (sometimes referred to as ‘daily rest’ or ‘monthly rest’)

At the end of the term, therefore, you will need to repay the capital

If you had planned on having any new furniture or appliances, order them now and if possible withhold delivery until you know exactly when you are moving in.

The freedom to make additional payments up to the annual limits

Setting the completion date The standard time between exchange of contracts and completion is four weeks

Disadvantages: The amount of your debt does not decrease over time, unlike the repayment mortgage option

This also means that persons who are self-employed, or who have recently changed jobs, or who have adverse credit can take out a loan

Personal Possessions (including cash) on an all risk basis, in and outside the home

Higher rate taxpayers may benefit from this option

If the plan is not reaching its expected target, the borrower can increase payments into the policy or invest in another product to cover any anticipated shortfall