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A separate life policy will be required in most cases

The flexible mortgage concept was imported from Australia so occasionally you may hear them referred to as ‘Aussie style mortgages’

Blind Bids This is only applicable to buyers in Scotland. If there is more than one party showing and interest in a property then each party will put in a sealed bid before a specified closing date. Often the bid is over the asking price and made only after thorough research and inspection into the value and condition of the property. (Consultation with a professional is always advised) By law the seller is under no obligation to accept any of the offers made, but usually accepts the highest bid. If for any reason the seller wishes to decline all of the offers made, perhaps due to low bid prices, then they can reject the offers and start anew.

If the rate offered is a variable rate, it may rise or fall in line with any base rate changes during the term

Some lenders will offer even larger cashbacks if you agree to pay a premium over the variable rate

conducts a local authority search to highlight planning, financial and other charges affecting the property

The mortgage like most others is portable should you move house, and providing you maintain the payments for the entire term of the mortgage you are guaranteed to repay the loan at the end of your selected period of borrowing

How long does your present fixed, discounted or capped rate last for

As a result the seller is in a stronger position and is likely to be less receptacle to any or significant price reduction

Advantages: Complete flexibility within the mortgage market allowing option to move from lender to lender should the opportunity to take advantage of more competitive rates elsewhere arise

Listing all the contacts involved in the move

Buy To Let Mortgage Buy To Let mortgages are taken out to buy a property for the sole purpose of letting as an investment.

YOU CAN APPLY FOR A LOAN WITHOUT LEAVING THIS SITE! the facility to apply online for your personal loan

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

Advantages: With the built in life assurance and in most cases critical illness insurance the overall cost is usually lower

Suitability: The repayment mortgage option is suitable in a number of circumstances the most common being those identified below: You do not like to expose yourself to too many financial risks

They are more expensive than the lenders valuation

At this point you will need to pay your share of the property purchase to your solicitor who will exchange this and the money from the mortgage provider for the Disposition (or Title Deed)

Particularly furnishings and fittings,

This is more likely to occur within the first 3-5 years of the mortgage term and more common with discounted, deferred or fixed mortgages

5 to 3 times joint income

YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOANS SECURED ON IT

Disadvantages: Unexpected increases in payments at term end