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Check this out with your solicitor or lender

It is worth noting that the shorter you make the administrative process, the more organised you will need to be

Most recent P60 Whilst the banks and building societies will all have different specific requirements these are usually required in all circumstances

Booking Fee and Arrangement Fee Both are up-front fees charges levied at the outset of the mortgage

This is widely accepted as the most straightforward of the mortgage options

At the end of the policy term there will be a final one off bonus called the terminal bonus which may in some instances represent a large proportion of the borrowers final pay out

Contents Insurance Home contents insurance protects your possessions against loss, damage and theft

Why indexed linked? - As time goes by, the rebuild and repair costs of any property damage are likely to increase, thus if the sum insured does not rise in relation to these, you will end up being under insured

This method of repayment is the least risky and is often considered suitable if you want guaranteed repayment and prefer to see the amount owed to the lender decline each year

This is referred to as a ‘redemption overhang’

Life assurance cover is not always necessary in taking out this type of mortgage

Advantages: Knowing the maximum monthly cost of your loan for a set period, allowing security within your budgeting

Advantages: Cash payment may be useful to those utilising their savings as a deposit, to enable them to afford fixtures and fittings for the property

It can be done, but much depends on the lender

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

No further funds can now be put into Personal Equity Plans

No buyer should rely solely on the information provided by a mortgage valuation especially when purchasing a large or old property

Often mistakenly called an endowment mortgage, interest only mortgages are loans where the lender agrees to charge purely interest throughout the term of the mortgage

Lenders will also use credit reference agencies to obtain information about you

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