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This method is designed to give you the opportunity to generate a cash sum sufficient to repay the outstanding mortgage capital at the end of the agreed term

The above rates are a sample of the range of rates currently available and figures are correct at the time of going to the Internet

This will contain a number of conditions and other requirements that your solicitor will discuss with you

Put the owner on the spot and see what reaction you get

If for any reason your application is declined, may be able to direct your application to a provider who can help

Most lenders and insurance companies offer a combined Buildings and Contents Policy

The idea behind the pension mortgage option is to link the amount of this lump sum to the amount borrowed

A flexible mortgage linked to a current account

Just Financial Advice UK Ltd is an independent mortgage advisor and will be able to help discuss the options with you, answer any questions you might have and agree a course of appropriate action

Suitability: An endowment policy is the most suitable option in a number of circumstances the most common being those identified below: You are a higher rate taxpayer and have utilised all your annual ISA allowance

However should rates increase the payments will be ‘capped’ and will not rise over the capped rate

Once the written negotiations (missives) have been completed, your solicitor will obtain the Title Deeds to ensure the seller is the genuine owner and check with the local authority on a range of matters (searches) to make sure you understand how or whether your property is affected by rights of way, restrictions of use and so on

where the loan is not much less than the value of the property, it is common practice for the lender to take out a form of ‘insurance’ to protect against some or all of the losses incurred if the property needs to be taken into possession because of serious arrears

Watch out – the ERC can sometimes last longer than the fixed rate period e

If you are not happy with the answer, investigate further or walk away

It is likely that the first payment will be double the normal monthly payment due to the requirement to pay a month in arrears by most lenders

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

Portable Mortgages Some mortgage products are portable (subject to the lender’s policy), which means if you move home you may be able to transfer your existing mortgage onto the new mortgage for your new home if you stay with the same lender.

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