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As soon as you have found a property that you wish to make an offer on, your solicitor will note interest for you

This is widely accepted as the most straightforward of the mortgage options

On this subject see ‘No Redemption’ and ‘No Overhang’ below

Once contracts have been exchanged, bankruptcy searches on both the buyer and the seller will be carried out

We specialise in helping people who find it difficult to obtain a mortgage or loan

This type of mortgage may be suitable for you if the nature of your income is such that satisfying a lenders requirements may prove difficult

Another form of insurance is Mortgage Indemnity Guarantee

It should be noted that individual savings accounts are relatively new products and as with any piece of new legislation there is always some degree of uncertainty over its long term future

There will usually be a required period of payment before protection will become available and some people may be excluded from its cover

Reductions or increases in the rate will result in a direct increase or decrease in the monthly payment to the lender

Another handy tip often overlooked or underrated is to check out the school run or office trips that you would normally take

12 weeks to go Try starting a notebook to record details

The redemption fee payable is often up to six times the currently monthly repayments

Suitability: A pension policy linked mortgage is the most suitable option in a number of circumstances the most common being those identified below: This option is only really suitable for a small minority of people

The lender can give you a settlement figure, normally over the phone

Gazundering Gazundering is when the buyer refuses to go ahead with the sale unless the price is reduced. There is nothing the seller can do about this apart from negotiate on the price or lose the sale - and possibly the house they are in the process of purchasing. In such situations any estate agent worth their salt will do their best to negotiate on your behalf, or failing that, will attempt to find you a suitable new buyer with all possible haste. Fortunately, it is rare to come across gazundering but in a slow housing market it is more likely to occur as prices may be falling.

Unit Linked – Once again investors funds are pooled and then used to purchase units in stock market linked investments

Alternatively, you may be seeking the security of a guaranteed mortgage rate which will provide peace of mind by ensuring that your monthly mortgage payments do not fluctuate

Default Failure of an individual to make payments on a mortgage at the correct time or to not comply with the mortgage companies requirements

A buyer will also have to instruct a survey to be carried out on the property to establish its true condition

Borrowers will normally have to build up a reserve through overpayments before being allowed to underpay or skip payments

A standard policy will typically include such cover as loss or damage to your possessions while in your home, alternative accommodation to the value of 15% of the value of the sum assured

Using an ISA as a repayment vehicle is growing in popularity but due to the ISAs complexity it is only for the financially sophisticated or borrowers taking advice from a suitably qualified financial adviser

Ask about the reason for the sale

Buyers should also be aware that they are responsible for the insurance of the property after the exchange of contracts

Fixed Rate Mortgage

Advantages: The potential reduction in your level of borrowings means that over the entire term of your mortgage substantial savings can be made on your overall mortgage payments, or you may be able to pay the mortgage off early

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

The second influence on the amount you can borrow is your current level of income