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Upon making an offer via the agent or directly to the seller, the experienced seller is likely to take into account several factors over and (in many cases) above the offer price itself

The main benefit of flexible mortgages is that many schemes are offered on a Daily or Monthly Interest Calculation basis (sometimes referred to as ‘daily rest’ or ‘monthly rest’)

Ask how long has the property been on the market and if there has been a price reduction

A recommendation of the building/rebuild insurance cover required should also be given

The law on moveables is quite complex

Cashback Mortgage Is a mortgage product, which provides a cash lump sum or a cash percentage of the mortgage amount to spend as you wish. The cashback amount is paid to the borrower shortly after completion.

CML - The The Council Of Mortgage Lenders is a trade association specifically for mortgage lenders in the UK and its members undertake around 98% of UK residential mortgage lending. It provides a service to mortgage lending institutions by helping to establish and maintain a favourable operating environment in the residential mortgage and related housing market.

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Possibility for first time buyers to use to enable them to obtain a mortgage when they are unable to raise a deposit other than by short term finance arrangements

This form of insurance has become more important as the Department of Social Security has steadily withdrawn the benefits available

Often it may require obtaining quotations for any remedial work required to form the basis of any negotiation on price

An endowment policy is a commonly used investment product to repay the capital, although there are other alternatives

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A survey carried out by the mortgage lender should indicate what sum to insure

Replacing any damaged, lost or stolen items on a new for old basis

First time buyers looking for security during the first few years of setting up home

This type of mortgage is often taken out in conjunction with other offers such as cashbacks

4 weeks to go Arrange buildings insurance for your new home to commence on exchange of contracts. Check that your home contents are adequately insured (transit insurance) during the move. Start to use up food from your freezer. Contact the telephone company to organise reconnection or installation of a line. Book time off work. Make special arrangements for pets and remember that they often find moving home stressful!

There may need to be further formal letters before both parties are in full agreement and your offer is accepted

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

Portable Mortgages Some mortgage products are portable (subject to the lender’s policy), which means if you move home you may be able to transfer your existing mortgage onto the new mortgage for your new home if you stay with the same lender.

99% 2 year discount, no extended ties fee free remortgage

Assessments are generally made very quickly based on your personal circumstances

A good starting point is to offer around 5% to 10% less than the asking price, although this greatly depends on market conditions

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

With discount mortgages borrowers need to watch out for ‘payment shock’

This could end up saving you time and money

Fixed Rate Mortgage

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

For more information see: Searches - what they should highlight Land registration The Land Registration fee will cost from £40 to £800