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Has the owner made any improvements? Do you have the relevant warranties? Does the property require much regular maintenance? Can you do it yourself or afford to get a professional? How much ground rent/service charges do you pay? (Leaseholds) How secure is the property, does it have an alarm? Has it ever been burgled? Ask about the neighbours

The way lenders quote interest rates varies

It is usually attributed to either the agent has been too pushy, the buyer has not put enough thought into what they really want or a professional timewaster is at work

Higher rate taxpayers may benefit from this option

The capital amount is to be repaid at the end of the period agreed

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

The cost of the survey is usually between £150 and £300 and provides a more in-depth inspection of a property

The key advantage is that you should be able to track the process of the purchase online

Advantages: Complete flexibility within the mortgage market allowing option to move from lender to lender should the opportunity to take advantage of more competitive rates elsewhere arise

the mortgage balance minus the positive balance held in the current account

How long they been there and have there been any disputes? Internal Observations Does the property have central heating? If so, check when it was installed and last serviced

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

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

Most lenders and insurance companies offer a combined Buildings and Contents Policy

The differential between base and pay rates remains constant for an agreed period and is normally far smaller than the margin on an ordinary variable rate

In certain instances the valuation figure returned by the surveyor may not equal the purchase price

This is a relatively recent introduction into the market and allows you to put all your money in one place, including your savings, current account, credit cards, loans, and earnings

Lenders charge interest on the amount you borrow, which is referred to as the Annual Percentage Rate (APR)

Disadvantages: Generally you will be unable to obtain fixed, discounted, capped or cashback rates on flexible mortgages

How much do these policies cost? Expect to pay around £5 for every £100 of your mortgage bill

Most insurance companies will have extended buildings cover options which are well worth considering

These are normally paid by bank or building society draft to ensure that they will be cleared in plenty of time for the date of entry

The main benefit of flexible mortgages is that many schemes are offered on a Daily or Monthly Interest Calculation basis (sometimes referred to as ‘daily rest’ or ‘monthly rest’)

You can also obtain wider protection to include damage or theft of shrubs, trees, flower beds, garden ornaments, gates and fences

Note any parking facilities or restrictions

Particularly furnishings and fittings,

Let your lender know your intentions and ask under what circumstances may they be prepared to waver the redemption fee

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