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If you have no life assurance cover in place and die before the loan is repaid, the mortgage will still need to be repaid

Check to see if this applies with your lender or solicitor

This means that a mortgage with, for example, a discount to 31st January 2006 will have a redemption charge to either the same date or a date prior to this

Title Deeds Title Deeds consist of a pack of legal documents, which a lender holds for the duration of the mortgage as security against the loan. The documents include who owns the legal title to the property and land, the results of solicitors’ searches and a map of the property with the legal boundaries defined.

Tracker Mortgage A Tracker Mortgage is linked to a benchmark interest rate, such as the Bank of England base rate. This is usually only for a set period of time. The rate you pay moves up and down in line with the benchmark selected. At the end of the set period, the Standard Variable Rate normally applies

A previous buyer will only be too happy to get some of the survey costs back

Advantages: Monthly payments can adapt to the level of monthly income you receive

Lenders are constantly providing new ways for borrowers to save money if they switch their mortgage from their existing lender to a new one

Lenders have an array of different criterion on which they will base the maximum LTV and at Just we will be able to provide you with advice regarding different lenders attitudes in this area

99% 2 year discount, no extended ties fee free remortgage

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Amendments to the 1988 Housing Act has reduced the fear of landlords that tenants, once admitted to the property, will prove all but impossible to evict

A removal firm will normally supply a quote over the phone, based on the location your moving from and to

Once the ruling has taken place it will be recorded against the persons credit history and will appear every time a credit search is done for the next seven years

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

If significant defects are identified, the surveyor may suggest further investigation by an specialist

Before the exchange of contracts, you will have to agree on a date for completion of purchase

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

This can lead to an individual paying interest on a mortgage for in excess of 25 years, which is generally an unnecessary expense

Some of the newer entrants into this sector are also linking savings accounts, credit cards and personal loans into the mix

How long does your present fixed, discounted or capped rate last for

1 week to go Pay all local milk/paper bills. Cancel any services, e.g. window cleaner, milkman, newspaper delivery. Return videos/library books/pick up dry-cleaning. Drain petrol/oil from any garden equipment. Prepare directions for removals company. Confirm final details with them and include contact/mobile numbers for you throughout the day. Make sure all the utilities at your new home will be fully functional for when you move in.

This is not the same as the main deposit and is returnable if you pull out before exchange of contracts

It is important to note that this is not an official search

Valuation Fee The amount charged to conduct a valuation of the property on behalf of the lender

A previous buyer will only be too happy to get some of the costs back

Ensure that you know how the settlement figure is made up

Capped mortgages enable you to place a limit on your monthly mortgage commitment, plus they benefit from falls in interest rates

Contrary to popular believe, lenders can be flexible

For example, the variable rate may be 5% with a discount of 1

Your monthly repayments consist of repaying the capital amount borrowed together with accrued interest

As you would expect lenders apply an Early Redemption Charge with cashback mortgages

The amount borrowed is subject to an interest charge, which will be quoted as a percentage