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The lender may permit over-payments and lump sum payments, which allow you to clear the loan over a shorter term than that agreed at the outset

The costs will be greater for house purchase than for remortgage

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

If applicable, a redemption fee comes into effect when you repay/terminate the mortgage within the redemption term, as set out in your mortgage advance

Noise abatement orders

We are experts in finding mortgages and loans for people with a problem, or poor credit history

If you have a mortgage, the lender will insist that you take out this type of policy

After completion, the buyer must pay stamp duty (if applicable) and must be registered as new owner with the Land Registry together with the details of any mortgage lender

Receive replies to questions raised and reports to you with the contract for signing

Are you in a strong position? A professional estate agent will have gained information from you regarding your current position, status and seriousness of intent to buy

Regular checking of the policy fund itself by the borrower and the lender should minimise any risk

During the early years you will find the charges in certain policies will eat into the premiums and reduce the amount you are accumulating towards the repayment of your mortgage

This may significantly increase the chances of your offer being accepted

Searches are often one of the major causes of time delay

insurance and finance

Liaises with relevant parties and negotiates a date for completion

APR - Annual Percentage Rate An indicator which is used to compare rates of interest. It takes into account the costs involved in setting up the mortgage, any discount periods, how often interest is calculated and calculates what the average rate of interest will be over the term of the loan. All lenders that comply with the consumer credit act must ensure that the borrower is notified about the APR

Suitability: A fixed rate mortgage is the most suitable option in a number of circumstances the most common being those identified below: Larger borrowings

As a consequence of not being ‘locked-in’, the rate offered on these schemes will usually not be as competitive as for mortgages with redemption penalties, making them most suitable for those who are likely to keep track of current rates and wish to remortgage quickly if they find a better rate, or those who may have to repay their loan in the first few years

The offer includes the purchase price, date of entry, alterations and specialist works together with any inclusions such as carpets and curtains etc

Equally, you may consider whether the most suitable mortgage vehicle for the future would be a repayment or interest only mortgage (see our Guide to your Mortgage Repayment Options) and this may be related to the prospect of remaining in the same house for the remaining term of your mortgage

This can be attributed partly to the stress of the home buying procedure, but it can also be down to mortgage tie-ins where the lender insists on you taking out their insurance

For a mortgage secured on a property, insurance may be required

These may include 100% mortgages or a range of fixed or capped rate mortgages (see Mortgage Guide) unavailable to non-first time buyers

First time buyers looking for security during the first few years of setting up home

Alternatively, you may be seeking the security of a guaranteed mortgage rate which will provide peace of mind by ensuring that your monthly mortgage payments do not fluctuate

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

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

Normally just complete a form online and a price is given

You never know, it could be a deciding factor involved in your decision to purchase or not

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

(Typically £800) Avoid gazumping and contract races To help protect yourself from future disappointment, wasted time and expenditure, during the process of making an offer it may be worth trying to ensure that the agent and the seller agree that higher offers will not be entertained