flexible, second mortgage uk

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The APRs quoted by the lender will usually be typical rates, and these act as a guide only as the exact rate offered will be on an individual basis

Absolute title Having absolute title on a property means that you have full rights and ownership relating to the property

Agricultural Covenant A planning covenant that allows the construction of a residential dwelling provided it is to be occupied by a person employed or associated with working on the land. Properties such as this tend to attract a lower value, as they can only be sold to another person in similar circumstance unless the covenant is lifted. Annual bonus A bonus paid annually on an endowment mortgage which is dependent on the performance of the investment fund you are using to repay your mortgage.

Solicitors require at least 7-10 days to release the necessary funds

Ask about the sellers position

29% 2 year fixed fee free, no extended ties

This can be attributed partly to the stress of the home buying procedure, but it can also be down to mortgage tie-ins where the lender insists on you taking out their insurance

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

This is a comprehensive report that provides information on construction and materials used as well as major and minor defects

These are known as regulated loans

Whilst practically the entire range of mortgage schemes are available to you with the exception of rates designed specifically for first time buyers, moving house may provide an excellent opportunity to consider what your future plans may be

For more information see: Searches - what they should highlight Land registration The Land Registration fee will cost from £40 to £800

This may mean that you require a scheme which permits lumps sum payments to reduce the mortgage or may be seeking to combine both your current account and mortgage borrowings in the same financial product

A booking fee is paid to reserve funds on a mortgage product that has limited funds available e

As a consequence of not being ‘locked-in’, the rate offered on these schemes will usually not be as competitive as for mortgages with redemption penalties, making them most suitable for those who are likely to keep track of current rates and wish to remortgage quickly if they find a better rate, or those who may have to repay their loan in the first few years

For example, the variable rate may be 5% with a discount of 1

Ask why the current owners are selling the property

Advantages: Cash payment may be useful to those utilising their savings as a deposit, to enable them to afford fixtures and fittings for the property

Last but not lease a Structural or Building survey which are recommended for period homes or properties of unusual construction

Searches - what they should highlight Your solicitor will carry out local searches to ensure that the property you are planning to buy does not have, for example, a road planned at the bottom of your garden, any compulsory purchase orders attached to it, or any local land charges adjacent to the property you are buying

Although directly related to interest rates it can be slightly more expensive than the interest only options, even allowing for the investment vehicle payments

b) If you are able to afford the remedial work over a staged period after completion, then consult the lender or broker to discuss staged release payments

5%

Overpayments and lump sum payments into your mortgage account can be made reducing both the interest and capital amounts repayable

Have there been any previous offers and what happened to the sale? Having had a previous buyer does not necessarily indicate that there is a problem with the property, but it does require investigation

Replacing any damaged, lost or stolen items on a new for old basis

Taking a look at the overall market conditions is essential, but we also suggest that you take a look at the local conditions

At Just we can complete a full analysis of the market using the most up to date information available