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

In return you usually agree to pay the variable rate charged by the bank or building society, for a specified term

Ability to benefit from rate cuts as they occur

In addition the interest rate charged is often lower than the usual Standard Variable Rates charged by the other more ‘traditional’ mortgage lenders

We are experts in finding mortgages and loans for people with a problem, or poor credit history

It is a basic inspection undertaken by a valuer on behalf of the lender for the purpose of determine whether a property is a sound investment on their behalf

In England and Wales a survey is normally made after the offer has been accept subject to contract

Your mortgage lender will insist on a property survey before approving your mortgage

Again, as with fixed rates, up-front charges and ‘lock-ins’ are common

Disadvantages: Generally you will be unable to obtain fixed, discounted, capped or cashback rates on flexible mortgages

You believe that the investment market over the period of your mortgage is likely to generate a cash surplus over and above that required to repay the mortgage

Investment managers may only be changed on an annual basis

As a result the seller is in a stronger position and is likely to be less receptacle to any or significant price reduction

When viewing we always suggest taking someone with you for a second opinion as well as your own safety

The capital amount is to be repaid at the end of the period agreed

Repayment mortgage With a repayment mortgage you repay, normally on a monthly basis over an agreed term, the money you have borrowed (known as capital) plus the interest charged by the lender

There is a wide range of contents insurance options and packages on the market

Booking fees are often non-refundable, so if the mortgage applicant cancels the mortgage application before completion the fee will not be reimbursed

Neighbourhood checks - Online property checks It is now possible to obtain information online regarding the local area of the intended property purchase

Mortgage lenders require that neither the buyer nor the seller have a bankruptcy notice registered against them

Normally a lender will require a non-refundable booking fee in advance to reserve this option

Base Rate Tracker Mortgages

Owing to the fact that pension plans have certain built in tax advantages they generally have the potential to achieve greater overall returns than an endowment policy might be expected to achieve

The repayment term available may depend on the purpose for which you require the loan, and may be restricted accordingly (e

a) Inform the vendor/agent about the dilemma to see if an agreement can be made regarding a reduction in the sale price

The financial aspects of the purchase are often the most complex and it is therefore imperative that you receive specialist advice on the many diverse options available to you

There are several factors that we will look at in detail and discuss with you the main items being: What limitations apply to the end of any product we are considering? Is there a lock in and if so for how long? What is the lenders variable rate – how does this compare? Is there any mortgage indemnity to pay? (Mortgage Indemnity is a premium paid to a lender in order to purchase an insurance policy against future loss

Cashback Mortgage Is a mortgage product, which provides a cash lump sum or a cash percentage of the mortgage amount to spend as you wish. The cashback amount is paid to the borrower shortly after completion.

CML - The The Council Of Mortgage Lenders is a trade association specifically for mortgage lenders in the UK and its members undertake around 98% of UK residential mortgage lending. It provides a service to mortgage lending institutions by helping to establish and maintain a favourable operating environment in the residential mortgage and related housing market.

In either case the difference will need to be found before completion