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These are known as regulated loans

How long they been there and have there been any disputes? Internal Observations Does the property have central heating? If so, check when it was installed and last serviced

Mortgages offering a 5 or even 6% cashback can be found which would mean a borrower taking a £70,000 mortgage would receive £4,200 on completion (at 6%)

Popular in the late eighties and the nineties an endowment policy is a combination of two basic elements, namely a savings plan and a life assurance policy

Another form of insurance common in the mortgage industry is a Mortgage Payment Protection Plan

Most lenders have a different name for this charge i

Investment backed mortgage With this method you pay interest only to the lender and separately take out a suitable investment to repay the capital at the end of the mortgage term

If you are not happy with the answer, investigate further or walk away

Compare the property with surrounding properties

You can also obtain wider protection to include damage or theft of shrubs, trees, flower beds, garden ornaments, gates and fences

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

This tends to be around £200 - £250 and becomes payable as soon a the reservation is made

Compare mortgage rates to find your ideal mortgage, or see how much you could save by changing lenders and re-mortgaging

For example; It may be that the property is located on the local pub route and returning merry singers (or worse) could end up becoming a nuisance

The solicitor will ask for your deposit and any outstanding charges to be in their hands normally 5/7 days before the date of entry

Contents insurance can provide cover for all your household contents - furniture, carpets, curtain, pictures TV, hi-fi, personal possessions etc

No buyer should rely solely on the information provided by a mortgage valuation especially when purchasing a large or old property

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

This is more likely to occur within the first 3-5 years of the mortgage term and more common with discounted, deferred or fixed mortgages

Exposure to interest rate rises

Negotiation with a lender is possible

At the end of the term, therefore, you will need to repay the capital

This is referred to as a ‘redemption overhang’

An arrangement fee is typically charged on completion of the mortgage