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

The offer will have numerous conditions which are designed to ensure that you encounter no problems when you move into the property

Blind Bids This is only applicable to buyers in Scotland. If there is more than one party showing and interest in a property then each party will put in a sealed bid before a specified closing date. Often the bid is over the asking price and made only after thorough research and inspection into the value and condition of the property. (Consultation with a professional is always advised) By law the seller is under no obligation to accept any of the offers made, but usually accepts the highest bid. If for any reason the seller wishes to decline all of the offers made, perhaps due to low bid prices, then they can reject the offers and start anew.

If so, your solicitor may be able to purchase these from the buyers solicitor which will save you waiting for the searches to be carried out by the local authority and possibly save money in the process

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

Note any parking facilities or restrictions

Get advice on all types of loans, compare rates, or apply for a loan online

Letting agents will on average charge 10% of the rental, or 15% if they are responsible for such things as repairs, complaints and other matters

The area of self-certification mortgages is a relatively new one which is proving popular due to the changing working environment

This possibility alone was enough to dissuade many people from becoming private landlords in the past

Some inexperienced and less ethical agents are driven by working on commission or sales targets and may be inclined to try scare tactics or apply pressure for you to purchase

It is normal for lenders to check that any policy arranged is adequate and a fee will sometimes be levied to check the policy, if the borrowers take a policy other than the one sold or recommended by the lender

Current Account Mortgage (CAM)

Advantages: Knowing the maximum monthly cost of your loan for a set period, allowing security within your budgeting

For a borrower wanting one home for their finances this is an attractive option

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

Portable Mortgages Some mortgage products are portable (subject to the lender’s policy), which means if you move home you may be able to transfer your existing mortgage onto the new mortgage for your new home if you stay with the same lender.

The maximum limit is £1,000 (£3,000 in the current tax year) for stocks and shares and cash, with the insurance element being £1,000 immediately

Sewers and drainage

Either party is liable for legal action in breach of contract

Advantages: Monthly payments can adapt to the level of monthly income you receive

The customer is charged mortgage interest on £48,000 i

A flexible mortgage linked to a current account

Gain an advantage view point of the roof - Does it bow or are there any tiles missing? Are there signs of any glass being recently replaced or damage to external doors? Possibly indicating signs of break-in

FIXED CAPPED DISCOUNT VARIABLE Fixed Rate Mortgage

There is potential for higher returns than endowments

Its purpose is to verify and record legal ownership of the property and to record any securities (mortgages) or conditions adversely affecting the property

Financial charges relating to work undertaken by the local authority, such as road works or repairs to dangerous buildings

The amount you repay the lender each month can be at a fixed interest rate for a certain period of time, regardless of the interest rate in the market place

Areas to pay particular attention to in selecting your cover are: Cover for any accidental damage

You may also speak to the seller directly

In many cases if approached sensibly, a happy medium can be reached

Demand for housing is higher than the property available