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Has it been recently decorated? Does it require any major work or modernisation? Ask what else is included in the sale

Borrowers confident that the mortgage rate is likely to fall

Each month therefore you make two separate payments, one to the lender and one to the investment you have selected to repay the loan

Usually calculated on a daily basis and added to the loan either monthly, quarterly or annually

The redemption fee payable is often up to six times you currently monthly repayments

APR - Annual Percentage Rate An indicator which is used to compare rates of interest. It takes into account the costs involved in setting up the mortgage, any discount periods, how often interest is calculated and calculates what the average rate of interest will be over the term of the loan. All lenders that comply with the consumer credit act must ensure that the borrower is notified about the APR

If a redemption fee does apply, all is not lost

Contrary to popular believe, lenders can be flexible

It is the role of the solicitor or licensed conveyancer to note ownership of the property on the title deeds; note the lenders interest in the property; register with the Land Registry and conduct searches to identify if there may be factors which could affect the property e

Buy To Let Mortgage Buy To Let mortgages are taken out to buy a property for the sole purpose of letting as an investment.

The financial aspects of the purchase are often the most complex and it is therefore imperative that you receive specialist advice on the many diverse options available to you

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

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

It is best to find out the sellers position during the viewing, having plied as much information from the agent beforehand

You should also receive a summary of the present state of the property along with any recommendations concerning future maintenance

In the early years of a repayment mortgage the majority of the monthly repayment is interest rather than capital

The valuation does not represent a detailed inspection