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Your monthly repayments consist of repaying the capital amount borrowed together with accrued interest

TIP: Buyers should make note that they are responsible for the insurance of the property on exchange of contracts, not when you move in

This can lead to an individual paying interest on a mortgage for in excess of 25 years, which is generally an unnecessary expense

If your instincts tell you to leave it alone

(Gazumping)

Suitability: An ISA linked mortgage is the most suitable option in a number of circumstances the most common being those identified below: This option is suitable for individuals willing to take some degree of financial risk

It is the role of the solicitor or licensed conveyancer to note ownership of the property on the title deeds; note the lenders interest in the property; register with the Land Registry and conduct searches to identify if there may be factors which could affect the property e

Capped Mortgage Capped Mortgages guarantee that the interest rate charged will not rise above a certain level for a set period of time. However, if the Standard Variable Rate goes below the capped rate, the Standard Variable Rate will apply. Once the set period of the capped rate has ended, the Standard Variable Rate of interest will be charged.

STEP 1 - WHICH LOAN? Unsecured personal loans are available for a range of different amounts and repayment terms

You are not looking for a guarantee of repayment at the end of the mortgage term

If you are obtaining a mortgage then your solicitor will need to prepare a Standard Security, giving your mortgage provider certain rights over the property

Title Deeds Title Deeds consist of a pack of legal documents, which a lender holds for the duration of the mortgage as security against the loan. The documents include who owns the legal title to the property and land, the results of solicitors’ searches and a map of the property with the legal boundaries defined.

Tracker Mortgage A Tracker Mortgage is linked to a benchmark interest rate, such as the Bank of England base rate. This is usually only for a set period of time. The rate you pay moves up and down in line with the benchmark selected. At the end of the set period, the Standard Variable Rate normally applies

The repayment term available may depend on the purpose for which you require the loan, and may be restricted accordingly (e

The law on moveables is quite complex

Variable Rate Mortgage

Check for built-in appliances

The process of registration is usually conducted via a solicitor

What other costs are involved in any remortgage scheme? What solicitors fees are incurred, valuation costs and set up fees? Once all this information is available you will be in a position to make an informed decision on how you might wish to proceed

If you are not happy with the answer, investigate further or walk away

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

A standard policy will typically include such cover as loss or damage to your possessions while in your home, alternative accommodation to the value of 15% of the value of the sum assured

Preparing the ground to buy No one likes a timewaster and the professional agent will spot one a mile off

Last but not lease a Structural or Building survey which are recommended for period homes or properties of unusual construction

When registering, be aware that you a likely to receive information on other services or products