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The date and actual time of day of completion is quite specific and relies absolutely on the transfer of money

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

As a result a lender may restrict the amount they are prepared to advance or place conditions on the advance

insurance and finance

Upon making an offer via the agent or directly to the seller, the experienced seller is likely to take into account several factors over and (in many cases) above the offer price itself

Ensure that you know how the settlement figure is made up

Location : Normally an agent will ask for a number of areas Do you need finance? If not how are you financing the purchase? Is it dependant on selling a property? If you have registered with an agent and your not getting any details

Capped Rate Mortgages

5 to 3 times joint income

Prior to making the decision to remortgage it is important to establish a number of basic facts or the benefit of your remortgage may be significantly reduced by penalties imposed by your current lender

Before making an advance, your mortgage lender will require a valuation report as a minimum

If applicable, a redemption fee comes into effect when you repay/terminate the mortgage within the redemption term, as set out in your mortgage advance

However in the greater scheme of things it may prove worth paying as a more competitive insurance may be had elsewhere

The value of these holdings will alter on a daily basis and can go down as well as up

If significant defects are identified, the surveyor may suggest further investigation by an specialist

it may not appear on the mortgage Offer as Mortgage Indemnity Charge or High Percentage Lending Fee

This policy is designed to offer income protection against unemployment, sickness and redundancy

TIP: Buyers should make note that they are responsible for the insurance of the property on exchange of contracts, not when you move in

Variable rate mortgages Most lenders have a set rate of interest known as the standard variable rate which they adjust as the Bank of England increases or lowers interest rates

Flexible mortgage Cashback Fixed Discounted Capped

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

Sewers and drainage

In either case, having prepared the ground an agent will notice that you have put some work into sorting a few thing out, thus take you seriously

Advantages: Generally, the rate charged will be lower than the variable rate applicable under a standard mortgage

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

Sometimes capped mortgages have a level below which interest rates cannot fall

Some lenders will offer even larger cashbacks if you agree to pay a premium over the variable rate

In this case the lender agrees to release the amount withheld over a staged period of time after satisfactory completion and in most cases inspection of the remedial work