residential, personal loan

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The lender may permit over-payments and lump sum payments, which allow you to clear the loan over a shorter term than that agreed at the outset

STEP 1 - WHICH LOAN? Secured home-owner loans are available in varying amounts and for many different purposes, including debt consolidation

Taking a look at the overall market conditions is essential, but we also suggest that you take a look at the local conditions

Endowments provide life assurance so that in the event of death the mortgage is paid off

Without an appraisal, it is going to be difficult to plan ahead

Assuming your intentions to purchase are serious, it is vital to put in some preparation work to ensure you are taken seriously by an agent and seller

In addition lenders frequently apply an Early Redemption Charge (ERC) for fixed rate mortgages

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.

A buyer will also have to instruct a survey to be carried out on the property to establish its true condition

There are several factors that we will look at in detail and discuss with you the main items being: What limitations apply to the end of any product we are considering? Is there a lock in and if so for how long? What is the lenders variable rate – how does this compare? Is there any mortgage indemnity to pay? (Mortgage Indemnity is a premium paid to a lender in order to purchase an insurance policy against future loss

A valuation of the property is supplied based on the approximate market value of the property

Until the arrival of flexible mortgages most, if not all, UK lenders were charging interest on an annual basis which meant that borrowers making over-payments were not getting the benefit straight away because it could be a year before the capital was reduced by the over-payment

The following planner will help focus on what needs be done and when

However in the greater scheme of things it may prove worth paying as a more competitive insurance may be had elsewhere

However, it is often overlooked that you may approach the seller or agent to negotiate a shorter period

Neighbours - are you inheriting a problem? During the process of creating the draft contracts the seller completes a questionnaire from their solicitor