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If the plan is not reaching its expected target, the borrower can increase payments into the policy or invest in another product to cover any anticipated shortfall

If remedial work is required ask the owner if they have had any quotes

Set your price range and when you would ideally wish to move

Pension Plan Life assurance cover is provided and monthly payments are made into a pension fund

The money may only be drawn from a pension policy when the policyholder reaches retirement age

The borrower remains liable for any shortfall on the mortgage hence the outstanding balance will need to be paid off from other resources

On-line conveyancing On-line conveyancing is one of the latest improvements in the legal process of buying and selling

Stage 3 - completion On the completion date, the buyer obtains all rights to the property in return for the actual transfer of the funds covering the purchase price (less any deposit already paid)

They will also find that the mortgages they can get will be at a higher interest rate

Ask the owner or agent why the sale collapsed

Contents insurance can provide cover for all your household contents - furniture, carpets, curtain, pictures TV, hi-fi, personal possessions etc

Take the time to get up a little earlier and start your school or office run from the intended property

Existing endowments can be used to support a new mortgage with any ‘additional lending’ over the value of the projected maturity balance being covered on a repayment basis or with an alternative repayment vehicle

It may be that there is more or less demand on a certain type of property or particular estates/areas

Switching between provider can only be completed on an annual basis and penalties may be incurred

INTEREST RATES ON MORTGAGES When you have chosen the right mortgage for you, whether it be a repayment or an interest only mortgage, you will need to consider the 4 main mortgage rate options available

A seller may ask you to negotiate specific issues or accept your offer in full; In which case by Scottish Law you are fully committed to the purchase

Either party is liable for legal action in breach of contract

a 3 year fixed rate with a 5 year ERC

Making an offer in its self is a simple process, but getting the price you want or simply securing your ideal home may require a bit more determination and skill on your behalf

The purpose of the search is to discover if there are plans for nearby development that could potentially affect the property

This will depend on future investment performance

Whereas in Scotland, the survey is completed before making a formal offer

The main benefit of flexible mortgages is that many schemes are offered on a Daily or Monthly Interest Calculation basis (sometimes referred to as ‘daily rest’ or ‘monthly rest’)

More detailed reports are also available for a small fee

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

Disadvantages: Associated redemption penalties are restrictive

Usually this type of flexible mortgage will also calculate interest daily meaning that you will see an immediate impact of any overpayments that you make

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