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Not many people know that another way to find out if there have been any disputes is to visit the local council and request information pertaining to the property

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

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

This is not an obligation to purchase the property

The typical rate is a rate that is offered to over 50% of successful applicants, and the exact rate offered to you will depend on your personal circumstances, the amount and term of the loan along with the credit assessment procedures

Sealing Fee This is a fee charged by all lenders for discharging a mortgage when it is repaid in full Searches A buyer’s solicitor normally carries out searches. The solicitor will carry out local searches on your behalf to make sure that the property you are planning to buy does not have, for example, a road planned at the bottom of your garden or any compulsory purchase orders attached to it. This is usually done by a search of the local land register. Your solicitor sends a standard form to the local authority that will enter details of any local land charges adjacent to the property you are buying. The speed with which the results are returned varies considerably from borough to borough. You can speed up the process by arranging a personal search. You pay a fee, whereby a search agent, appointed by your solicitor, calls at the offices of the local authority and the search is conducted there and then. This is not an official search, so will not protect you to the same degree, but if speed is of the essence, it can save weeks.

Examine these policies carefully

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

Ask about the sellers position

At this point a survey will need to be arranged so that a firm and informed offer may be made

Some of the newer entrants into this sector are also linking savings accounts, credit cards and personal loans into the mix

This is also particularly relevant in the case of sealed bids

This means that a mortgage with, for example, a discount to 31st January 2006 will have a redemption charge to either the same date or a date prior to this

A good starting point is to offer around 5% to 10% less than the asking price, although this greatly depends on market conditions

An arrangement fee is typically charged on completion of the mortgage

Especially considering that they had gone to the expense of paying for a building survey

This is not the same as the main deposit and is returnable if you pull out before exchange of contracts

Borrowers with new loans only get the interest paid after waiting for nine months

The key thing is to talk with your lender

At least you then have the information regarding how the seller would rather proceed

When the benefits are eventually taken, the mortgage is repaid using tax-free cash from the remainder of the fund

Capped mortgages enable you to place a limit on your monthly mortgage commitment, plus they benefit from falls in interest rates

Especially if you are intending to take out a new loan or transfer your existing loan to another lender because they offer better rates or terms

Know which location/s you prefer

Some sites are also offering information about local schools, crime rates, and average property prices

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

Contrary to popular believe, lenders can be flexible

The cover and cost does vary between lenders and you should check what their policy includes, and just as importantly, what it excludes

Negotiation with a lender is possible

On your mortgage statement, normally received annually, you will see that the amount borrowed decreases throughout the term

Try not to widen your search in too much

ADVANTAGES If the proceeds of the plans exceed the amount required to repay the mortgage, then this is received as a cash lump sum by the borrower