endowment mortgage, quick mortgages uk

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A single payment is made to your lender each month covering both the interest charged on the loan as well as the repayment of the outstanding capital

the mortgage has to be held for a number of years before the lender breaks into profit

In either case the difference will need to be found before completion

Borrowers will normally have to build up a reserve through overpayments before being allowed to underpay or skip payments

Read all the details on the specification sheet

Although both may vary, a deposit of between 5% and 10% is common, as is completion 28 days after exchange

Default Failure of an individual to make payments on a mortgage at the correct time or to not comply with the mortgage companies requirements

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

Normally a lender will ask you to establish a repayment vehicle for the loan at the outset although this is not always the case

Contents insurance can provide cover for all your household contents - furniture, carpets, curtain, pictures TV, hi-fi, personal possessions etc

Other Charges There are a whole series of other fees that some lenders apply in certain circumstances e

On-line conveyancing On-line conveyancing is one of the latest improvements in the legal process of buying and selling

For peace of mind it may be appropriate to obtain a ‘Housebuyers Report’ or a ‘Full Structural Survey’

The skilled agent will ask a series of questions that determine how serious you are, what properties will be of interest, what else they can sell to you and how quickly they can do it

If the property was purchased outright, the buyer keeps the deeds

Buyers Market

This may reveal other factors that will not appear on any formal search

Buildings survey Also known as a structural survey

Payment holidays are permitted

Suitability: A fixed rate mortgage is the most suitable option in a number of circumstances the most common being those identified below: Larger borrowings

Many lenders now offer specialist buy to let mortgages that allow private landlords to fix their interest payments for five years or more, providing you with some security over mortgage funding costs