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If it is clear at this point, then there should be no problems further down the road when it come to draft-contract preparation

Self-Build Mortgages This is a mortgage for applicants who are building their own property. The loan is usually released in stages as the building progresses.

Stamp duty Stamp Duty is a UK government based tax on properties bought throughout the UK. It becomes payable upon completion of your purchase and is normally paid through your conveyancer. more info: Current Fees

Advantages: With the built in life assurance and in most cases critical illness insurance the overall cost is usually lower

More detailed reports are also available for a small fee

Its purpose is to verify and record legal ownership of the property and to record any securities (mortgages) or conditions adversely affecting the property

The skilled agent will ask a series of questions that determine how serious you are, what properties will be of interest, what else they can sell to you and how quickly they can do it

If negotiation is required, these offers and counter offers are known as missives

Having a mortgage in principle means you should be able get the actual mortgage quicker when the race to buy your chosen home begins

Other advantages of flexible mortgages are that payment holidays can be taken during the year and extra funds are normally available via a drawdown facility

An arrangement fee is typically charged on completion of the mortgage

Individuals on a tight budget expecting wage increases over the first few years of the mortgage

The valuation cost is likely to be at least £150 and becomes payable as soon as you wish to proceed with buying a property

It is best to find out the sellers position during the viewing, having plied as much information from the agent beforehand

You can also obtain wider protection to include damage or theft of shrubs, trees, flower beds, garden ornaments, gates and fences

Ask the owner or agent why the sale collapsed

In addition lenders frequently apply an Early Redemption Charge (ERC) for fixed rate mortgages

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