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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

The lender may permit over-payments and lump sum payments, which allow you to clear the loan over a shorter term than that agreed at the outset

Endowments provide life assurance so that in the event of death the mortgage is paid off

Lenders are constantly providing new ways for borrowers to save money if they switch their mortgage from their existing lender to a new one

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

The maximum limit is £1,000 (£3,000 in the current tax year) for stocks and shares and cash, with the insurance element being £1,000 immediately

Some inexperienced and less ethical agents are driven by working on commission or sales targets and may be inclined to try scare tactics or apply pressure for you to purchase

Payment is either up front, or added to the overall loan

As a tip, note that in the UK you can only drive up to a 3 tonne vehicle before you need an HGV license

It is possible that your investment may provide a surplus lump sum or pay off your mortgage early

If the rate offered is a variable rate, it may rise or fall in line with any base rate changes during the term

Written quotations are available on request

Total monthly payments will remain constant unless interest rates change, but as each year passes the capital part of the payment will increase as the interest element decreases

Understandably this is due to protecting their investment

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

If added to the loan then interest is charged over the duration of the loan

The premium is usually charged when borrowing is in excess of the amount the lender considers they can safely lend and be assured of their money being returned if any future financial problems occur

Has it been re-plumbed or rewired? If so, ask to see any certifications or guarantees Look for cracks, uneven floors or doorways and any signs of water damage

Please remember, a major consideration in any viewing or visits should be your safety- Always help ensure your own safety by taking a friend or partner

Cashback mortgage A Cashback mortgage provides you with an amount of cash upon commencement of the mortgage