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This will vary between lenders and products

The earlier you contact them, the more sympathetic they are likely to be

Gaining as much information about the reasons for the sale and the condition of the property will pay dividends later when making an offer

Therefore, a reputable agent will forward all offers to their client even if these are made after an offer has been accepted

the rates for telephone applications may be different from those for online applications

The deposit is handed over to the sellers conveyancers and then a final completion statement is made by both parties conveyancers

It provides no benefit to you, it is for the lenders protection only

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

It will cover problems such as collapse or serious distortion of floor joists or the roof

Below is a quick and easy guide to personal loans

With this type of mortgage, interest may be calculated on a daily or weekly basis

All mortgage lenders require a survey, some more thorough and detailed than others

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

The period an Early Redemption Charge applies can vary

Portable Mortgages Some mortgage products are portable (subject to the lender’s policy), which means if you move home you may be able to transfer your existing mortgage onto the new mortgage for your new home if you stay with the same lender.

Other advantages of flexible mortgages are that payment holidays can be taken during the year and extra funds are normally available via a drawdown facility

Solicitors require at least 7-10 days to release the necessary funds

A previous buyer will only be too happy to get some of the survey costs back

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

Most mortgage schemes, in return for offering you a lower initial rate, will require you to stay with that scheme at least for the period of the Discount, Fix or Cap, and often longer

They deal with surveyors every day and should be able to recommend a good one

where the loan is not much less than the value of the property, it is common practice for the lender to take out a form of ‘insurance’ to protect against some or all of the losses incurred if the property needs to be taken into possession because of serious arrears

Redemption penalties can prevent restructuring of your mortgage and associated finances

A capped rate mortgage is very similar to a fixed except that if the variable rate drops below the capped rate, the borrower will make payments based on the lower variable rate

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)