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You stand to lose more than the property you had your heart set on as you may well have paid for surveys and searches, none of which will be refundable

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

When viewing we always suggest taking someone with you for a second opinion as well as your own safety

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

The savings can be considerable although you have no protection against increases in interest rates and may find that an increase takes you over your budget

First and most important: If you have a property to sell, obligation a free appraisal from more than one estate agent

A mortgage is a sum of money borrowed from a bank or building society in order to purchase a property

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

If you have a flexible mortgage, you may be able to vary the amount of the monthly repayment and you may be able to pay in or draw out lump sums

Without going into detail to explain this feature the up-shot is that over-paying the mortgage on a monthly or regular basis, even by a relatively small amount, will reduce your mortgage term by years (hence saving payments)

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

See FAQs for more details

For more information see: Vital questions to ask the seller or agent Making a deposit Express the seriousness of your offer by offering to put down a deposit as an act of good faith

Valuations and mortgage reports Note, a valuation is not a survey

There are more properties on the market than there are buyers

Home Mortgage Rates

Interest only

Fixed Rate Mortgage

Again, if you have any concerns about this, your solicitor will be able to advise you

Just Financial Advice UK Ltd is an independent mortgage advisor and will be able to help discuss the options with you, answer any questions you might have and agree a course of appropriate action

Indeed with enough credit you can take a payment holiday

Capped Rate Mortgage

Mortgage Protects Schemes If you lose your sole source of income, the reality is that you will not be able to rely on the State to help with your loan repayments

The cost is usually dependent upon the type and size of property, but expect to pay between £300 - £800

However, if the variable rate drops below your capped rate, you will benefit as your repayments will be calculated using the lower variable rate

RICS The Royal Institution of Chartered Surveyors (RICS) is an independent, not-for-profit organisation, which is required to act in the public interest. Originally formed in 1868, RICS is a professional body that represents, regulates and promotes chartered surveyors and technical surveyors. RICS has over 110,000 members in 120 countries and is the leading professional body addressing all aspects of property, land, construction and their associated environmental issues. more info: http://www.rics.org.uk

will need to be addressed during this period of pre-contract enquires

If added to the loan then interest is charged over the duration of the loan

Individuals looking to repay their mortgages quicker than their basic income would indicate as, possibly the result of expected bonus payments and or share options

Not all buyers pull out as a result of the condition of property itself, but it is worth noting that further enquiries should be made as to the reasons for a previous buyer pulling out

This may be due to a number of factors, but mainly occurs due to the condition of the property

The agent will be more willing to hand you properties that he can sell quickly or that are in greater demand