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The amount is usually measured in either pounds or months

This can save hours of waiting on the phone trying to get to speak to your conveyancer

We recommend taking a look at homecheck

This can be an indication of overpricing, adverse surveys or valuations and point to future difficulties in selling

Get the first 3 months FREE on any premium

Take note of the neighbours - Do they have overlooking views? Do they have pets, or caravans that may end up being a nuisance? Accept a tour by the owner or agent

Location : Normally an agent will ask for a number of areas Do you need finance? If not how are you financing the purchase? Is it dependant on selling a property? If you have registered with an agent and your not getting any details

Particularly furnishings and fittings,

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

Providing all payments are made in full, at the end of the term, no capital will remain outstanding

Searches are often one of the major causes of time delay

This tends to be around £200 - £250 and becomes payable as soon a the reservation is made

As soon as you have found a property that you wish to make an offer on, your solicitor will note interest for you

Buy To Let Mortgages Buy To Let mortgages are taken out to buy a property for the sole purpose of letting as an investment. These are normally second mortgages. The rates charged on second mortgages tend to be about 0.5% to 1% higher than first-home mortgages, so it is likely that you will pay more for your loan on a Buy To Let Scheme. This is due to the nature of the loan, which is considered a higher risk for the lender. Lenders also tend to require larger deposits as most will lend only 75% of the property value though some may go as high as 85%. You are required to meet certain criteria, which vary from lender to lender, but fundamentally your application will be based on 1) Your income versus all existing loans. 2) The anticipated rental income covering a certain percentage of the loan interest payment. 3) Plus the normal credit checks etc.

It is probably more suited to you if you do not mind this uncertainty and your budget can absorb an increase in interest rates or if you think rates will go down during the discounted period

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

External Observations Ask to see the garden and the garage

FIXED CAPPED DISCOUNT VARIABLE Fixed Rate Mortgage

There is no reason why completion may not take place at the same time as exchange providing all the necessary conditions have been fulfilled

You believe that the investment market over the period of your mortgage is likely to generate a cash surplus over and above that required to repay the mortgage

The fixed payments are based on the amount of the loan together with the mortgage term and are designed so that, at maturity, the amount invested and earnings are sufficient to pay off the mortgage

a first-come, first-served fixed rate

Redemption Redemption of a mortgage is the process of discharging a mortgage by paying off the loan. Paying off a mortgage before the end of a mortgage term is referred to as ‘early redemption’ or ‘early repayment’ and may incur an early redemption fee. This fee may be as much as six times your normal monthly payments. There is a greater chance of incurring these fees when redeeming in the first 1-5 years of the mortgage term Residential Leases Can either be short term (typically six months or one year) or long term. A long-term lease can extend as long as 999 years. The length of the lease will affect the value of a property. If it is a short lease or anything much less than 100 years, this will be reflected in the value of the property This means that some short term leases can be seen as very good value, but effectively become rentals.

So as a rough ‘rule of thumb’ a capped rate is better to have than a fixed if all other factors are equal

Base Rate Tracker Mortgages

Each year the amount owed will decline

How long does your present fixed, discounted or capped rate last for

Poor Credit history can include County Court Judgements(CCJ), Bankruptcy, Mortgage arrears or any late payments on credit arrangements

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

As a general guide, it is advisable to compare the APRs of different products as this will help you to determine how competitive they are