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If you have no life assurance cover in place and die before the loan is repaid, the mortgage will still need to be repaid

It may be that administration charges, mortgage indemnity insurance, or building and contents insurance costs have been added to the amount you originally borrowed

Gregory Pennington Bains & Ernst STEP 3 - HOW AM I PROTECTED? Personal loans are governed by the Consumer Credit Act 1974

Buy to let has become an attractive investment option for many people as soaring house prices, increased demand for rental property and better legal protection for private landlords has made buy to let fast growing area of the mortgage market

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

All lenders will insist on buildings insurance as the very minimum

For example, setting the price range on your next home

Choosing a surveyor Reputable surveyors will confirm an instruction in writing with details of costs, qualifications and the nature of the instruction

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

ARLA - The The Association of Residential Letting Agents (ARLA) is a self-regulating body, which is solely concerned with lettings. In the event of unresolved disputes, the ARLA offers arbitration for landlords and tenants who use ARLA member firms. more info: http://www.arla.co.uk Arrangement Fee Sometime referred to as an Application Fee. The fee is an amount of moneylenders charge for arranging a mortgage. It may include administration costs and normally varies from one particular mortgage product to another.

Initial property enquiries This is where much time involved in selling and buying is wasted

For more information see: Vital questions to ask the seller or agent Making a deposit Express the seriousness of your offer by offering to put down a deposit as an act of good faith

Capped mortgage Capped mortgages have a limit to any increases in the variable rate, for a selected period of time

Take note of the neighbours - Do they have overlooking views? Do they have pets, or caravans that may end up being a nuisance? Accept a tour by the owner or agent

The Association of Residential Letting Agents (ARLA) says most landlords should be able to obtain gross rent equivalent to between 130% and 150% of the rental property¹s mortgage repayments (interest only)

Insurers impose various get out clauses, so as with all insurance cover it is vital to check what is included (and excluded) in the cover

There is no reason, as far as legal procedures are concerned, why this cannot be quicker

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

You should never assume that because a lender is prepared to agree a mortgage on the property that the purchase price is reasonable or there is nothing wrong with the property itself

It occurs when the seller accepts a higher offer from another buyer after already having accepted yours

Ask the owner or agent why the sale collapsed

Some lenders do offer cashbacks in conjunction with other offers such as discounts or fixed rates

Below is a quick and easy guide to personal loans

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

Other Benefits A whole range of other benefits can be applied to mortgages including the significant benefits of no Mortgage Indemnity Charge and no Early Redemption Charge

How long has it been on the market and have there been any price reductions? Ask about the general state of the property

At the end of the fixed rate (or ‘benefit’) period the rate will normally convert to the lenders Standard Variable Rate (SVR)

Read all the details on the specification sheet

Much maligned in the press because of the poorer investment growth rates achieved in a low inflationary environment this form of investment is less popular these days

Without going into detail to explain this feature the up-shot is that over-paying the mortgage on a monthly or regular basis, even by a relatively small amount, will reduce your mortgage term by years (hence saving payments)

Suitability: The repayment mortgage option is suitable in a number of circumstances the most common being those identified below: You do not like to expose yourself to too many financial risks

- Are school catchment areas, commuting or environment an issue? Contact a solicitor to access their quality of service

Know which location/s you prefer