buy to let, mortgage loan

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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

Preparing for Settlement As the settlement date comes near your solicitor ensures that everything is drawn together, that the funds are ready, and that there are no outstanding issues

Liaises with relevant parties and negotiates a date for completion

That is: Consider what type of mortgage you require and then find a mortgage lender you feel can offer you the best deal

Each year the original capital sum will remain outstanding

Generally anything between 1 and 25 year fixed rates are available

Overall these policies remain expensive and limited in the cover and peace of mind that they provide to borrowers

Until the arrival of flexible mortgages most, if not all, UK lenders were charging interest on an annual basis which meant that borrowers making over-payments were not getting the benefit straight away because it could be a year before the capital was reduced by the over-payment

It is vital therefore that you discuss this complex area with an adviser as in many circumstances a more competitive rate may be available form a lender who will be more sympathetic to your particular circumstances

The amount available usually ranges from £3,000 to £50,000, although some lenders will consider lending up to £100,000

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

Frequently individuals will move from job to job requiring alterations to be made to their retirement planning which may adversely affect their mortgage planning

The deposit is handed over to the sellers conveyancers and then a final completion statement is made by both parties conveyancers

On your mortgage statement, normally received annually, you will see that the amount borrowed decreases throughout the term

A number of these flexible mortgages may also offer the ability to operate your mortgage account as a bank account with the option to make withdrawals in certain circumstances

Disadvantages: Unexpected increases in payments at term end

Free Valuation or Refund of Valuation A free valuation requires no up-front payment from the mortgage applicant whereas a refund will only be made when and if the mortgage application completes

A flexible mortgage linked to a current account

You only get this if you qualify for income support

The definition of income may also change from one mortgage provider to the next

A Guide to Secured Home-Owner Loans A secured loan is any loan that requires the borrower to provide the lender with some form of security

Irrespective of movements in the interest rate your monthly payments will not change

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

It will be based on settling the mortgage at that moment in time, so the final figure at completion/taking entry will vary marginally

It simply informs the seller of your interest

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