variable rate, mortgage loan

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a first-come, first-served fixed rate

Title Deeds Title Deeds consist of a pack of legal documents, which a lender holds for the duration of the mortgage as security against the loan. The documents include who owns the legal title to the property and land, the results of solicitors’ searches and a map of the property with the legal boundaries defined.

Tracker Mortgage A Tracker Mortgage is linked to a benchmark interest rate, such as the Bank of England base rate. This is usually only for a set period of time. The rate you pay moves up and down in line with the benchmark selected. At the end of the set period, the Standard Variable Rate normally applies

The Maxi individual savings accounts combine three basic elements in one plan, with a limit of £5,000 (£7,000 in the current tax year) being placed on the investment

Just offer independent advice with regard to over 4,600 mortgage products

The rate will also provide a buffer against increases in the interest rates

This could end up saving you time and money

The costs will be greater for house purchase than for remortgage

In either case the difference will need to be found before completion

Ideally suited to the self-employed Individual Savings Accounts (ISA) Advice The Basics: Introduced in April 1999 individual savings accounts were designed to replace Personal Equity Plans

Larger borrowings

Cashback The Lender, as an incentive, will offer a lump sum of cash once the mortgage has been taken out

Hence in this situation you are likely to stand a greater chance of obtaining a significant price reduction

If you completed our application form, it will be passed to your chosen provider in order that they may process it

However should rates increase the payments will be ‘capped’ and will not rise over the capped rate

Pension Plan Life assurance cover is provided and monthly payments are made into a pension fund

Disadvantages: Associated redemption penalties are restrictive

For example, the variable rate may be 5% with a discount of 1