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Borrowers with new loans only get the interest paid after waiting for nine months

Examine these policies carefully

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

In England and Wales a survey is normally made after the offer has been accept subject to contract

This form of insurance is not compulsory

The date and actual time of day of completion is quite specific and relies absolutely on the transfer of money

With Profits – here the monthly premiums are pooled with other investors

The proportion of UK housing stock taken by rentals stood at a low of 7% in 1989, but has grown to 11% in the ten years since

Liaises with relevant parties and negotiates a date for completion

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

Most mortgage schemes, in return for offering you a lower initial rate, will require you to stay with that scheme at least for the period of the Discount, Fix or Cap, and often longer

Remember, it is your responsibility to get the correct sum insured

Be precise when filling out the registration forms

Capped Rate Mortgage

There is no reason why completion may not take place at the same time as exchange providing all the necessary conditions have been fulfilled

The following planner will help focus on what needs be done and when

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

The interest rate can fluctuate and is not fixed at the initial rate of interest

Stamp Duty becomes payable at the time of completion/taking entry and is normally made via a solicitor

The cover and cost does vary between lenders and you should check what their policy includes, and just as importantly, what it excludes