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The typical cost is £50 to £100 and the search is conducted by a solicitor

The cost can easily add over £1,000 to the total bill and is either paid up front or added to the overall loan

Are you in a strong position? A professional estate agent will have gained information from you regarding your current position, status and seriousness of intent to buy

Once contracts have been exchanged, bankruptcy searches on both the buyer and the seller will be carried out

A removal firm will normally supply a quote over the phone, based on the location your moving from and to

It is probably more suited to you if you do not mind this uncertainty and your budget can absorb an increase in interest rates or if you think rates will go down during the discounted period

A survey carried out by the mortgage lender should indicate what sum to insure

Overall these policies remain expensive and limited in the cover and peace of mind that they provide to borrowers

Stamp Duty You are required to pay a Government tax (Stamp Duty) on a property priced above £60,000

This mainly occurs in a sellers market or where the property is of rare value

Lenders have an array of different criterion on which they will base the maximum LTV and at Just we will be able to provide you with advice regarding different lenders attitudes in this area

The Mortgage Code The mortgage code provides protection for the borrower and sets out minimum standards which mortgage intermediaries and lenders should meet

This can be attributed partly to the stress of the home buying procedure, but it can also be down to mortgage tie-ins where the lender insists on you taking out their insurance

Bankrupt A Corporation, Firm or individual who, via a court proceeding, is relieved from paying all debts once assets have been surrendered to an appointed third party designated by the court

(Gazumping)

29% 2 year fixed fee free, no extended ties

Sewers and drainage

All lenders will insist on buildings insurance as the very minimum

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

Default Failure of an individual to make payments on a mortgage at the correct time or to not comply with the mortgage companies requirements

12 weeks to go Try starting a notebook to record details

g Loans for holidays may be restricted to a 12 or 24 month term)

Payment holidays are permitted

The period an Early Redemption Charge applies can vary

Some plans are tax-efficient

This is known as an Adverse Valuation and may occur due to any number of factors, but in most cases it is connected with the condition of the property

Ask the seller or agent when the previous buyer pulled out and if recent, ask your conveyancer whether it is advisable to purchase the previous searches

These are normally paid by bank or building society draft to ensure that they will be cleared in plenty of time for the date of entry

The lender will discuss the level of survey required, but at the very least will require a valuation of the property before agreeing to any mortgage advance

a £47,500 mortgage on a purchase price / valuation of £50,000 would result in a £750 charge on a typical MIG charge of 7

Mortgage Indemnity Charge (sometimes referred to as a High Percentage Lending Fee) For high Loan to Value (LTV) mortgages i

It is common for lenders to offer rates fixed for a period of 2 to 5 years, but shorter and longer periods can be found in the market