variable rate, mortgage uk

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Suitability: The flexible mortgage option is suitable in a number of circumstances the most common being those identified below: Self employed or contract workers

In the past some lenders have made their insurance compulsory with some very competitive mortgage products although this is less common now

APR may vary

The amount will vary from lender to lender and on the size of the mortgage

ARLA - The The Association of Residential Letting Agents (ARLA) is a self-regulating body, which is solely concerned with lettings. In the event of unresolved disputes, the ARLA offers arbitration for landlords and tenants who use ARLA member firms. more info: http://www.arla.co.uk Arrangement Fee Sometime referred to as an Application Fee. The fee is an amount of moneylenders charge for arranging a mortgage. It may include administration costs and normally varies from one particular mortgage product to another.

The inspection is limited to comparing the price being paid against similar property in the area and checking the general condition and location of the property

Flexible mortgage A flexible mortgage may enable the borrower to pay off all or part of their mortgage without paying a penalty

OTHER FEATURES / CONDITIONS AND CHARGES ASSOCIATED WITH MORTGAGES Early Redemption Charge (sometimes referred to as a ‘redemption penalty’) Given that the mortgage market is very competitive many mortgages are sold as ‘loss leaders’ i

This may result in the property having to be sold to repay the debt owed

It is best to find out the sellers position during the viewing, having plied as much information from the agent beforehand

The amount is usually measured in either pounds or months

Letting agents will on average charge 10% of the rental, or 15% if they are responsible for such things as repairs, complaints and other matters

It may also give you a good indication regarding the seriousness of intent to sell

They are not available for business purposes and some other uses may also be excluded, for example the purchase of timeshare properties

a £47,500 mortgage on a purchase price / valuation of £50,000 would result in a £750 charge on a typical MIG charge of 7

The valuation does not represent a detailed inspection