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This can lead to an individual paying interest on a mortgage for in excess of 25 years, which is generally an unnecessary expense

A removal firm will normally supply a quote over the phone, based on the location your moving from and to

The survey does not necessarily supply a property valuation, but it should highlight any defects that could end up costing a fortune to make good

Capped Rate Mortgages

Frequently they can be added to the mortgage hence the fee does not become an ‘out of pocket’ expense

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

Making an offer is one of the more stressful parts of buying a home

Freehold A freehold gives the buyer complete ownership of the land and buildings on it. Freeholders can therefore do what they like with their property and land, subject to general law (particularly planning control) and to the lawful rights of others. The fact that a property is available as a freehold, usually adds to the value over that of a leasehold.

This is covered above

Advantages: Knowing the maximum monthly cost of your loan for a set period, allowing security within your budgeting

Compare mortgage rates to find your ideal mortgage, or see how much you could save by changing lenders and re-mortgaging

Advantages: The fixed rate provides the security of knowing the exact monthly cost of your loan for a set period

This is known as an Adverse Valuation and may occur due to any number of factors, but in most cases it is connected with the condition of the property

The seller in turn will most likely invite you to make an offer on or before a closing date

The amount will vary from lender to lender and on the size of the mortgage

These are known as regulated loans

TIP: Buyers should make note that they are responsible for the insurance of the property on exchange of contracts, not when you move in

It is likely that the first payment will be double the normal monthly payment due to the requirement to pay a month in arrears by most lenders

There is no guarantee with this type of mortgage