home equity, mortgage guide uk

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The inspection is limited to comparing the price being paid against similar property in the area and checking the general condition and location of the property

- Are school catchment areas, commuting or environment an issue? Contact a solicitor to access their quality of service

It is important to note that comment within the report is limited to those areas that are considered accessible at inspection

Gazundering Gazundering is when the buyer refuses to go ahead with the sale unless the price is reduced. There is nothing the seller can do about this apart from negotiate on the price or lose the sale - and possibly the house they are in the process of purchasing. In such situations any estate agent worth their salt will do their best to negotiate on your behalf, or failing that, will attempt to find you a suitable new buyer with all possible haste. Fortunately, it is rare to come across gazundering but in a slow housing market it is more likely to occur as prices may be falling.

This means that all bank rates cuts are automatically passed on to the borrower

You believe that the investment market over the period of your mortgage is likely to generate a cash surplus over and above that required to repay the mortgage

The endowment is a long-term investment product, which should be held to maturity to get the maximum benefits

Disadvantages: Holders of a Mini individual savings accounts cannot take out a Maxi, and vice versa

Ensure that your solicitor is aware of the survey and any other information you have learned about the property

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

Making an offer in its self is a simple process, but getting the price you want or simply securing your ideal home may require a bit more determination and skill on your behalf

Tree preservation orders

Lockout agreements and contract races Preferable at the time of offer try to ensure that the agent and the seller agrees that higher offers will not be entertained (gazumping)

APR may vary

Possibility for first time buyers to use to enable them to obtain a mortgage when they are unable to raise a deposit other than by short term finance arrangements

Indeed with enough credit you can take a payment holiday

The period an Early Redemption Charge applies can vary

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