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This may reveal other factors that will not appear on any formal search

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

Borrowers with new loans only get the interest paid after waiting for nine months

6 months interest or repayment of the amount of benefit received, be it cashback or reduced interest

The above mortgage products may have other criteria which will require evaluation before deciding if the product is suitable for an individual

Negotiating face to face can be a very effective tactic

Suitability: A variable rate mortgage is the most suitable option in a limited number of circumstances the most common being those identified below: Individuals borrowing money over the very short term anticipating repaying the loan early and not wishing to incur redemption penalties on all or part of the loan

At this point a survey will need to be arranged so that a firm and informed offer may be made

Other Charges There are a whole series of other fees that some lenders apply in certain circumstances e

Self-Build Mortgages This is a mortgage for applicants who are building their own property. The loan is usually released in stages as the building progresses.

Stamp duty Stamp Duty is a UK government based tax on properties bought throughout the UK. It becomes payable upon completion of your purchase and is normally paid through your conveyancer. more info: Current Fees

The Act contains strict regulations about how money is lent and covers unsecured loans up to £25,000

With discount mortgages borrowers need to watch out for ‘payment shock’

A flexible mortgage linked to a current account

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

Structural surveys are more appropriate for older homes where there is a greater potential for difficulties to arise

They are also useful for larger amounts or where the applicant requires a longer repayment period

This is called a collar

Advantages: Generally, the rate charged will be lower than the variable rate applicable under a standard mortgage

All lenders will insist on buildings insurance as the very minimum

Many lenders now offer specialist buy to let mortgages that allow private landlords to fix their interest payments for five years or more, providing you with some security over mortgage funding costs

Homeowners with older mortgages only have to wait eight weeks to get half of their interest paid, and after 16 weeks they get it all paid

It should be noted that individual savings accounts are relatively new products and as with any piece of new legislation there is always some degree of uncertainty over its long term future

Once the ruling has taken place it will be recorded against the persons credit history and will appear every time a credit search is done for the next seven years

The period of borrowing is in excess of say 12 years

Prior to making the decision to remortgage it is important to establish a number of basic facts or the benefit of your remortgage may be significantly reduced by penalties imposed by your current lender

Title Deeds Title Deeds consist of a pack of legal documents, which a lender holds for the duration of the mortgage as security against the loan. The documents include who owns the legal title to the property and land, the results of solicitors’ searches and a map of the property with the legal boundaries defined.

Tracker Mortgage A Tracker Mortgage is linked to a benchmark interest rate, such as the Bank of England base rate. This is usually only for a set period of time. The rate you pay moves up and down in line with the benchmark selected. At the end of the set period, the Standard Variable Rate normally applies

Some of the newer entrants into this sector are also linking savings accounts, credit cards and personal loans into the mix

Although directly related to interest rates it can be slightly more expensive than the interest only options, even allowing for the investment vehicle payments

Suitability: An endowment policy is the most suitable option in a number of circumstances the most common being those identified below: You are a higher rate taxpayer and have utilised all your annual ISA allowance

UK Pensions Advice

Not many people know that another way to find out if there have been any disputes is to visit the local council and request information pertaining to the property