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It may be that administration charges, mortgage indemnity insurance, or building and contents insurance costs have been added to the amount you originally borrowed

This means that all bank rates cuts are automatically passed on to the borrower

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%)

With Profits – here the monthly premiums are pooled with other investors

If you have a flexible mortgage, you may be able to vary the amount of the monthly repayment and you may be able to pay in or draw out lump sums

rooms, style, new or old etc

Disadvantages: The amount of your debt does not decrease over time, unlike the repayment mortgage option

The amount you repay the lender each month can be at a fixed interest rate for a certain period of time, regardless of the interest rate in the market place

The above rates are a sample of the range of rates currently available and figures are correct at the time of going to the Internet

For more information see: Vital questions to ask the seller or agent Making a deposit Express the seriousness of your offer by offering to put down a deposit as an act of good faith

When registering, be aware that you a likely to receive information on other services or products

Find out what else is included in the sale

As the discount is linked to the standard variable rate, the borrowers payments will increase, if rates rise – so there is no certainty in budgeting

If any adverse comments on structure or conditions arise then it is wise to obtain quotations on any remedial work required

It is important to note that the valuation is carried out on behalf of the lender – not the mortgage applicants! Frequently lenders include an administration fee as part of the valuation fee collected to cover the costs of arranging the valuation

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

Be aware that valuations are just that - they are not a full structural survey

Borrowers will be required to remain on the lenders variable rate of interest for a pre-determined period of time

Some websites are also offering information about local schools, crime rates, and average property prices

You stand to lose more than the property you had your heart set on as you may well have paid for surveys and searches, none of which will be refundable

Having a mortgage in principle means you should be able get the actual mortgage quicker when the race to buy your chosen home begins

On this subject see ‘No Redemption’ and ‘No Overhang’ below

Disadvantages: Generally rates for capped mortgages will be slightly higher than those of the fixed rate mortgages available, although this is largely led by market forces and has not been the case in recent years

The date and actual time of day of completion is quite specific and relies absolutely on the transfer of money

The moving in day is likely to be one of the most memorable days in connection with the property, so we hope our planner goes some way in making your move more pleasurable

Offers & Missives When you make an offer for a property you are only offering for the bricks, mortar and ground and the non-moveables

Capped mortgages enable you to place a limit on your monthly mortgage commitment, plus they benefit from falls in interest rates

Most recent mortgage statement or a redemption statement from your lender

For more information see: Valuations and surveys Removal costs Removal costs vary according to whether your using a removal firm or doing-it-yourself

Possibility for first time buyers to use to enable them to obtain a mortgage when they are unable to raise a deposit other than by short term finance arrangements