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When the benefits are eventually taken, the mortgage is repaid using tax-free cash from the remainder of the fund

Buildings survey Also known as a structural survey

Will your items be adequately insured during the move? Existing loan settlement figures If you already have a mortgage, do not assume that you have less owing than the amount originally borrowed

This service is subject to a small fee, and is available by contacting: Experian Ltd Online: wwwukexperiancom/consumer Telephone: 0870 241 6212 Post: Consumer Service Help Centre Experian Ltd PO BOX 8000 Nottingham NG1 5GX Equifax PLC Online: wwwequifaxcouk Telephone: 0870 010 0583 Post: Credit File Advice Centre PO BOX 3001 Glasgow G81 2DT If you are experiencing problems with your credit you may wish to contact the following companies for some help and advice

Other Charges There are a whole series of other fees that some lenders apply in certain circumstances e

These are often referred to as credit scoring facilities

Requests your deposit

Annual Versus Daily Interest Rate Calculations Some lenders offer mortgages with daily or with annual interest. The best option depends on your personal circumstances, for example if you know you will want to make overpayments or regular capital payments on your mortgage, you should probably consider a daily interest type mortgage. However, if flexibility of payment is not a requirement, annual interest may be more appropriate.

Written quotations are available on request

Just offer independent advice with regard to over 4,600 mortgage products

Avoidance of early redemption penalties

Lenders are constantly providing new ways for borrowers to save money if they switch their mortgage from their existing lender to a new one

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

Disadvantages: As mentioned above, any change in bank rates will be directly reflected in the monthly mortgage repayment so this type of mortgage provides no protection against any upward movement in interest rates (in contrast to fixed rate mortgages for example)

Depending on the amount of loan and the LTV the Mortgage Indemnity Guarantee charge can be a significant cost e

Before making an advance, your mortgage lender will require a valuation report as a minimum

The cost can easily add over £1,000 to the total bill and is either paid up front or added to the overall loan

Being hit by an unexpected redemption fee can put a serious dent into your finances

Only one Maxi individual savings account may be held in any one tax year

All lenders will insist on buildings insurance as the very minimum

Some short term discount products offer a ‘deep discount’ e

OTHER TERMINOLOGY Adverse Credit If a borrower has a history of poor credit usage then this is described as Adverse Credit

Arrangement fees are common on fixed and capped rate mortgages

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