mortgage protection, mortgage loan uk

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Customers cashing-in an endowment policy in the first few years after inception can receive less than the amount invested

A Home Buyers report, generally suitable for most modern homes conventional in type and construction

where the loan is not much less than the value of the property, it is common practice for the lender to take out a form of ‘insurance’ to protect against some or all of the losses incurred if the property needs to be taken into possession because of serious arrears

Lenders now offer insurance policies that pay mortgage bills for around a year if you lose your job

The plan holder can then draw a pension from the balance of the fund

If the property was purchased outright, the buyer keeps the deeds

These are often referred to as credit scoring facilities

The amount is usually measured in either pounds or months

You believe that the investment market over the period of your mortgage is likely to generate a cash surplus over and above that required to repay the mortgage

It is a basic inspection undertaken by a valuer on behalf of the lender for the purpose of determine whether a property is a sound investment on their behalf

If significant defects are identified, the surveyor may suggest further investigation by an specialist

Contents insurance can provide cover for all your household contents - furniture, carpets, curtain, pictures TV, hi-fi, personal possessions etc

Each lender will have a maximum percentage of the value that they will be willing to lend in each individual circumstances, this is more commonly known as the maximum loan to value (LTV)

Your local agent can give you a good idea here

A booking fee is paid to reserve funds on a mortgage product that has limited funds available e

This means that all bank rates cuts are automatically passed on to the borrower

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

With this type of mortgage, interest may be calculated on a daily or weekly basis

As a consequence lenders frequently ‘lock-in’ borrowers by applying Early Redemption Charges for those paying off the mortgage early

Individuals on a tight budget expecting wage increases over the first few years of the mortgage

You may also speak to the seller directly

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.

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

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

As a consequence it is important that the payments are maintained into the repayment vehicle otherwise it will not be possible to pay off the mortgage at the end of the term

At Just we can complete a full analysis of the market using the most up to date information available

See FAQs for more details

Below is a quick and easy guide to personal loans

Searches - what they should highlight Your solicitor will carry out local searches to ensure that the property you are planning to buy does not have, for example, a road planned at the bottom of your garden, any compulsory purchase orders attached to it, or any local land charges adjacent to the property you are buying