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A previous buyer will only be too happy to get some of the survey costs back

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.

Usually this type of flexible mortgage will also calculate interest daily meaning that you will see an immediate impact of any overpayments that you make

The second influence on the amount you can borrow is your current level of income

Has it been re-plumbed or rewired? If so, ask to see any certifications or guarantees Look for cracks, uneven floors or doorways and any signs of water damage

This will prove handy at the time of making an offer

Has it been recently decorated? Does it require any major work or modernisation? Ask what else is included in the sale

This may cover issues such as disputes with neighbours

It is common for lenders to offer rates fixed for a period of 2 to 5 years, but shorter and longer periods can be found in the market

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

Buyers Market

Should the lender determine that an inspection is required before releasing any further funds, this normally carries a small fee that will be deducted from the withheld advance

Not only will an estate agent take you more seriously, but the seller will feel more comfortable and have more confidence that you are not time wasting

Negotiating face to face can be a very effective tactic

Interest is far more likely to be calculated on a daily basis

Having a mortgage in principle means you should be able get the actual mortgage quicker when the race to buy your chosen home begins

Free Valuation or Refund of Valuation A free valuation requires no up-front payment from the mortgage applicant whereas a refund will only be made when and if the mortgage application completes

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)

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

Redemption penalties can prevent restructuring of your mortgage and associated finances

This rate is known as the Annual Percentage Rate (APR)