conveyancing, quick mortgages uk

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Base Rate The standard rate of interest set by the Bank of England which all lenders generally follow.

Repayment mortgage With a repayment mortgage you repay, normally on a monthly basis over an agreed term, the money you have borrowed (known as capital) plus the interest charged by the lender

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

Information Required There are a number of common items that will be required in order to obtain a new mortgage and listed below are the most common: 3-6 months pay slips 3-6 months bank statements

The seller is legally required to answer these enquiries honestly! But do they? We believe not always

The interest rate can fluctuate and is not fixed at the initial rate of interest

These may include 100% mortgages or a range of fixed or capped rate mortgages (see Mortgage Guide) unavailable to non-first time buyers

Discounted Rate Mortgage

We also hold the details of loans designed specifically for applicants with a poor credit history, and we provide the facility to apply online for these through moneysupermarket

Contents Insurance Home contents insurance protects your possessions against loss, damage and theft

The capped rate has a maximum rate above which your loan will not be charged, however should the lenders variable mortgage rate fall below the level of the cap then you will still benefit from this rate

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

Set your price range and when you would ideally wish to move

Arrears This describes the amount the borrower is behind in his mortgage repayments schedule

This is more likely to occur within the first 3-5 years of the mortgage term and with discounted, deferred or fixed mortgages

Disadvantages: In the first few years of the loan the largest proportion of your regular monthly payment goes to pay off interest – the balance outstanding is hardly reduced at all