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Overpayments and lump sum payments into your mortgage account can be made reducing both the interest and capital amounts repayable

Written quotations are available on request

There are some important facts to understand about the mortgage indemnity charge

There is also the potential to receive a tax-free lump sum once the capital amount owing has been repaid, or to reduce the term of the mortgage if the target amount is achieved early

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As a consequence of not being ‘locked-in’, the rate offered on these schemes will usually not be as competitive as for mortgages with redemption penalties, making them most suitable for those who are likely to keep track of current rates and wish to remortgage quickly if they find a better rate, or those who may have to repay their loan in the first few years

In the longer term, with flexible mortgage rates, you should see the reduction of the amount owing occurring more quickly than a standard mortgage

Note that even after repossession the former borrower will remain liable for any sums owing (shortfall between selling price and mortgage outstanding plus arrears, lenders legal costs and any other charges applied to the mortgage) and can be pursued by the insurance company for payment at a subsequent date

For borrowers moving house regularly, this can result in little of the capital being paid off

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This may result in the property having to be sold to repay the debt owed

One other factor on which there is a debate as to how it will be treated is the aspect of adverse credit details

Whether the property is a listed building or in a conservation area

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

As a general rule, it is advisable to compare the APRs of different loans, as this is a good way to determine how competitive they are

In addition lenders frequently apply an Early Redemption Charge (ERC) for fixed rate mortgages

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

How long they been there and have there been any disputes? Internal Observations Does the property have central heating? If so, check when it was installed and last serviced

A flexible mortgage linked to a current account

Customers cashing-in an endowment policy in the first few years after inception can receive less than the amount invested

Poor Credit history can include County Court Judgements(CCJ), Bankruptcy, Mortgage arrears or any late payments on credit arrangements

Current Account Mortgage (CAM)

Suitability: A cash back mortgage is the most suitable option in a number of circumstances the most common being those identified below:

First time buyers

The seller needs to move fast

This service is subject to a small fee, and is available by contacting: Experian Ltd Online: wwwukexperiancom/consumer Telephone: 0870 241 6212 Post: Consumer Service Help Centre Experian Ltd PO BOX 8000 Nottingham NG1 5GX Equifax PLC Online: wwwequifaxcouk Telephone: 0870 010 0583 Post: Credit File Advice Centre PO BOX 3001 Glasgow G81 2DT If you are experiencing problems with your credit you may wish to contact the following companies for some help and advice

The current options available to you in conjunction with interest only mortgages include endowment, pension or an Individual Savings Account (ISA) Advantages: There are a variety of investment vehicles available to use to repay interest only mortgages, some offering tax advantages

These mortgages take the benefits of the flexible mortgage and use the funds held in the current account to offset the interest e

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

The flexible mortgage concept was imported from Australia so occasionally you may hear them referred to as ‘Aussie style mortgages’