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The borrower also takes out at the same time, an alternative ‘repayment vehicle’ (method of paying off the mortgage) such as an ISA, pension plan or endowment policy

Try not to widen your search in too much

you as a loyal customer with a new loan

The opportunity to take payment holidays without incurring large penalties

Index Linked Buildings Insurance This type of insurance covers the main structure of your home (not the contents) and is required to protect you against the cost of rebuilding your home in the event of fire, flood or similar disaster

The valuation cost is likely to be at least £150 and becomes payable as soon as you wish to proceed with buying a property

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

The capital amount is to be repaid at the end of the period agreed

Your lender agrees a set rate of interest for a specified period of time

It is also worth pointing out that historically the returns on endowment policies have been pretty good (provided they go full term)

Homeowners with older mortgages only have to wait eight weeks to get half of their interest paid, and after 16 weeks they get it all paid

Mortgage lenders are pretty strict on what kind of survey they require and who completes the survey

If it is going to happen then it is likely to occur between acceptance of your offer and exchange of contracts

A Guide to Secured Home-Owner Loans A secured loan is any loan that requires the borrower to provide the lender with some form of security

During the early years you will find the charges in certain policies will eat into the premiums and reduce the amount you are accumulating towards the repayment of your mortgage

These are normally paid by bank or building society draft to ensure that they will be cleared in plenty of time for the date of entry

Mortgage lenders require that neither the buyer nor the seller have a bankruptcy notice registered against them

As soon as you have found a property that you wish to make an offer on, your solicitor will note interest for you

How we can Help Obviously prior to making any decisions comparisons from other providers should be obtained

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

It should be noted that individual savings accounts are relatively new products and as with any piece of new legislation there is always some degree of uncertainty over its long term future

The seller may or may not be entertaining any new viewings, but if you have viewed the property and decided to make an offer (albeit late in the day) at least the seller will be aware of it

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.

If asked, the seller will let you know how they would like to proceed

Most lenders and insurance companies offer a combined Buildings and Contents Policy

Demand for housing is higher than the property available