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No further funds can now be put into Personal Equity Plans

Your local agent can give you a good idea here

Obtaining quotes for conveyancing is simple

They are usually covered by professional indemnity insurance, which means costs can generally be recouped if things go wrong

The cost of this is therefore to be taken into account when selecting a lender

For a mortgage secured on a property, insurance may be required

With this type of mortgage, interest may be calculated on a daily or weekly basis

At this point you will need to pay your share of the property purchase to your solicitor who will exchange this and the money from the mortgage provider for the Disposition (or Title Deed)

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

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

Stage 3 - exchange of contracts A sale or purchase of property in England and Wales only becomes legally binding once the contracts have been exchanged

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

Buy to Let Mortgages

County Court Judgements (CCJ) An adverse ruling by a County Court against a person who has not satisfied their debt payments with their creditors

Capped Rate Mortgages

Although your repayments are unprotected from any sudden increases in interest rates you will benefit from any reductions

Lenders have been known to charge a switching fee even if you refused to accept the lenders insurance cover at the time of taking out a mortgage

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.

Free Legals or a Contribution Towards Conveyancing Costs More common on products aimed at the remortgage market but a frequent product ‘enhancement’

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

Most pension plans have the option at maturity to withdraw a percentage of the fund as tax-free cash

Not many of us are likely to do it, but it can give you a good idea of what your possible future neighbours may be like

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

A buildings policy covers against storm damage, fire, flooding etc and relates to the fabric of the house or flat etc

The amount available usually ranges from £500 to £25,000 over a term of 6 months to 10 years