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The period of borrowing is in excess of say 12 years

The deposit is handed over to the sellers conveyancers and then a final completion statement is made by both parties conveyancers

If you wish to repay the loan in this time, or you remortgage with another lender, you will have to pay an Early Redemption Charge which can cost £thousands (6 months interest is common) depending on the lender and scheme

This may significantly increase the chances of your offer being accepted

Generally this cost is being phased out in the market but you may still encounter this premium for loans above 80% of the house value

Taking entry The solicitor will advise you on checks to be made when you enter the property and what to do if you encounter any problems

Listing all the contacts involved in the move

Homeowners with older mortgages only have to wait eight weeks to get half of their interest paid, and after 16 weeks they get it all paid

Equally, you may consider whether the most suitable mortgage vehicle for the future would be a repayment or interest only mortgage (see our Guide to your Mortgage Repayment Options) and this may be related to the prospect of remaining in the same house for the remaining term of your mortgage

External Observations Ask to see the garden and the garage

Discounted mortgage With a discounted mortgage, lenders offer a discount on the standard variable rate for a specified term

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

Preliminary Observations Ask about the cost of council tax and utilities with the seller

Disadvantages: Unexpected increases in payments at term end

Home working equipment cover

Booking Fee and Arrangement Fee Both are up-front fees charges levied at the outset of the mortgage

For example, the variable rate may be 5% with a discount of 1

However it is not necessarily the case that two lending institutions that have the same multiples available will lend the same amount of money to the same person

This form of insurance has become more important as the Department of Social Security has steadily withdrawn the benefits available

The increased flexibility inherent within the repayment vehicle can lead to shortfalls in relation to the amounts required owing to withdrawals having been made

Title searches at the Land Registry will also be carried out

Cashback The Lender, as an incentive, will offer a lump sum of cash once the mortgage has been taken out

At the end of the term, therefore, you will need to repay the capital