conveyancing, mortgage loan

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The key thing is to talk with your lender

Location : Normally an agent will ask for a number of areas Do you need finance? If not how are you financing the purchase? Is it dependant on selling a property? If you have registered with an agent and your not getting any details

damp and timber reports, planning consents for alterations and extensions

Not all buyers pull out as a result of the condition of property itself, but it is worth noting that further enquiries should be made as to the reasons for a previous buyer pulling out

the mortgage has to be held for a number of years before the lender breaks into profit

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

Without an appraisal, it is going to be difficult to plan ahead

It may be possible to renegotiate the price of the property taking into account to costs of any work required

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

Disadvantages: In the first few years of the loan the largest proportion of your regular monthly payment goes to pay off interest – the balance outstanding is hardly reduced at all

Plan and think ahead

There are several factors that we will look at in detail and discuss with you the main items being: What limitations apply to the end of any product we are considering? Is there a lock in and if so for how long? What is the lenders variable rate – how does this compare? Is there any mortgage indemnity to pay? (Mortgage Indemnity is a premium paid to a lender in order to purchase an insurance policy against future loss

For more information see: Vital questions to ask the seller or agent Making a deposit Express the seriousness of your offer by offering to put down a deposit as an act of good faith

Basically it is any item that is not firmly attached to the house that is counted as a moveable

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

Disadvantages: Generally the rate will not be competitive in relation to the market

This will vary between lenders and products