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It may also indicate how genuine the sellers are

- Are school catchment areas, commuting or environment an issue? Contact a solicitor to access their quality of service

When viewing a property ask the question and try to establish a rapport with the seller

For more information please see:: Dealing with adverse valuations Recently built homes Most new houses have a National House Building Council (NHBC) Certificate

First Time Home Buyers Buying your first home can be a daunting proposition

ADVANTAGES At the end of the term, you are safe in the knowledge that the total amount of the debt has been repaid

Tree preservation orders

FEATURES AND OTHER BENEFITS OFFERED WITH MORTGAGES There are other key features and benefits to be considered when determining the best mortgage for a prospective borrower

This will vary between lenders and products

Alternatively the title deeds will be sent to the mortgage lender in the case of raising finance for the purchase

A recommendation of the building/rebuild insurance cover required should also be given

Be prepared

Unfortunately not all estate agents are ethical in this area

Booking Fee and Arrangement Fee Both are up-front fees charges levied at the outset of the mortgage

This type of mortgage may be suitable for you if the nature of your income is such that satisfying a lenders requirements may prove difficult

Sealing Fee This is a fee charged by all lenders for discharging a mortgage when it is repaid in full Searches A buyer’s solicitor normally carries out searches. The solicitor will carry out local searches on your behalf to make sure that the property you are planning to buy does not have, for example, a road planned at the bottom of your garden or any compulsory purchase orders attached to it. This is usually done by a search of the local land register. Your solicitor sends a standard form to the local authority that will enter details of any local land charges adjacent to the property you are buying. The speed with which the results are returned varies considerably from borough to borough. You can speed up the process by arranging a personal search. You pay a fee, whereby a search agent, appointed by your solicitor, calls at the offices of the local authority and the search is conducted there and then. This is not an official search, so will not protect you to the same degree, but if speed is of the essence, it can save weeks.

APR - Annual Percentage Rate An indicator which is used to compare rates of interest. It takes into account the costs involved in setting up the mortgage, any discount periods, how often interest is calculated and calculates what the average rate of interest will be over the term of the loan. All lenders that comply with the consumer credit act must ensure that the borrower is notified about the APR

The Association of Residential Letting Agents (ARLA) says most landlords should be able to obtain gross rent equivalent to between 130% and 150% of the rental propertyıs mortgage repayments (interest only)

The market conditions are in your favour (see details above)

Insurance Lenders will insist that the property is adequately insured, with a suitable Buildings Insurance Policy, as it represents security against the mortgage debt

TYPES OF MORTGAGE There are essentially two different types of mortgage: Repayment only, (capital and interest mortgage) Interest only, (ISA, pension or endowment mortgage) Repayment only

Written quotations are available on request

the mortgage has to be held for a number of years before the lender breaks into profit

Although both may vary, a deposit of between 5% and 10% is common, as is completion 28 days after exchange

If a person has a County Court Judgement against them it will have to be satisfied before they can get a mortgage

The Maxi individual savings accounts combine three basic elements in one plan, with a limit of £5,000 (£7,000 in the current tax year) being placed on the investment

Stage 2 - Assessment of draft contracts This is the point at where both parties solicitors negotiate the deposit payable on exchange of contracts, the time between exchange and completion and any allowance by the seller to let the buyer have access to the property ahead of time

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

You can also seek advice from a voluntary organisation such as The Citizens Advice Bureau

In the early years of a repayment mortgage the majority of the monthly repayment is interest rather than capital

There is no reason why completion may not take place at the same time as exchange providing all the necessary conditions have been fulfilled