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Gazundering Gazundering is when the buyer refuses to go ahead with the sale unless the price is reduced. There is nothing the seller can do about this apart from negotiate on the price or lose the sale - and possibly the house they are in the process of purchasing. In such situations any estate agent worth their salt will do their best to negotiate on your behalf, or failing that, will attempt to find you a suitable new buyer with all possible haste. Fortunately, it is rare to come across gazundering but in a slow housing market it is more likely to occur as prices may be falling.

This can be of great advantage in determining outline information before you go to the time and expense of having a survey and local searches made

On your mortgage statement, normally received annually, you will see that the amount borrowed decreases throughout the term

If you are mortgaging the purchase of your property then the lender will make it a condition that you take out their Mortgage Indemnity Insurance

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

Often mistakenly called an endowment mortgage, interest only mortgages are loans where the lender agrees to charge purely interest throughout the term of the mortgage

Borrowers paying the Standard Variable Rate will have their payments increase or decrease as the lender adjusts the rate in accordance with market conditions

Know which location/s you prefer

Get the first 3 months FREE on any premium

In the past some lenders have made their insurance compulsory with some very competitive mortgage products although this is less common now

Much depends on the agent, the seller and your confidence in your negotiation skills

Location : Normally an agent will ask for a number of areas Do you need finance? If not how are you financing the purchase? Is it dependant on selling a property? If you have registered with an agent and your not getting any details

Preparing the ground to buy No one likes a timewaster and the professional agent will spot one a mile off

If you had planned on having any new furniture or appliances, order them now and if possible withhold delivery until you know exactly when you are moving in.

In most cases, it is simply not worth it

However, most vendors are reluctant to take the hit on the full amount