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If you are unsure, talk to local estate agents and solicitors

How long has it been on the market and have there been any price reductions? Ask about the general state of the property

With this type of mortgage, interest may be calculated on a daily or weekly basis

OTHER TERMINOLOGY Adverse Credit If a borrower has a history of poor credit usage then this is described as Adverse Credit

Once all documentation is in order (after checking with you and your lender) the solicitor will send the title deeds for recording in the Register of Sassines or registration in the Land Register of Scotland

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

The seasoned mover is likely to have learnt from past experiences to exactly that

If asked, the seller will let you know how they would like to proceed

Advantages: Cash payment may be useful to those utilising their savings as a deposit, to enable them to afford fixtures and fittings for the property

It acts as a form of insurance for the lender not the borrower

3% of the loan

Contrary to popular believe, lenders can be flexible

The mortgage like most others is portable should you move house, and providing you maintain the payments for the entire term of the mortgage you are guaranteed to repay the loan at the end of your selected period of borrowing

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

Much maligned in the press because of the poorer investment growth rates achieved in a low inflationary environment this form of investment is less popular these days

All mortgage lenders require a survey, some more thorough and detailed than others

Again, if you have any concerns about this, your solicitor will be able to advise you

Discounted Rate Mortgage

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