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Receives mortgage offer and deals with all the conditions on your behalf

It is important to note that you will still need to fund the shortfall in the advance at completion, albeit on a shorter term basis

Be prepared

There has been a previous price reduction on the property

Providing a combination of the security of knowing the maximum monthly cost for a set period with the opportunity to take advantage of any downward movement in the mortgage rates, this is a popular choice for many borrowers

This tends to be between £25 - £50 and may be avoided if enough objections were made

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 widely accepted as the most straightforward of the mortgage options

For borrowers moving house regularly, this can result in little of the capital being paid off

However, it is often overlooked that you may approach the seller or agent to negotiate a shorter period

Generally anything between 1 and 25 year fixed rates are available

Free Legals or a Contribution Towards Conveyancing Costs More common on products aimed at the remortgage market but a frequent product ‘enhancement’

As a consequence it is important that the payments are maintained into the repayment vehicle otherwise it will not be possible to pay off the mortgage at the end of the term

TYPES OF MORTGAGE There are essentially two different types of mortgage: Repayment only, (capital and interest mortgage) Interest only, (ISA, pension or endowment mortgage) Repayment only

An estate agent has the duty by law to inform the seller of all offers made on their property, regardless of an offer having already been accepted

ISA The Individual Savings Account (ISA) is a tax free method of saving

In addition, borrowers will need a Contents Policy that provides cover for the contents, such as carpets, TV’s, furniture etc

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

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

This may include: Accidental building damage, for example spilling paint down a wall or on your patio

Individuals on tight budgets expecting wage increases over the first few years of the mortgage

Arriving at the property Before knocking, take a few moments to observe your first impressions

Mortgage Endowment Policies

Borrowers with larger loans Remortgaging The Basics How we can help Information Required The Basics Becoming increasingly popular over the last ten years remortgaging is commonplace in today’s competitive mortgage market

On this subject see ‘No Redemption’ and ‘No Overhang’ below

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

3% of the loan

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