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APR may vary

Free Legals or a Contribution Towards Conveyancing Costs More common on products aimed at the remortgage market but a frequent product ‘enhancement’

A buyer will also have to instruct a survey to be carried out on the property to establish its true condition

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

Save £s on your buildings and home contents insurance

Homebuyers survey This is the most popular form of survey and is intended for use on conventional types of property

Loans secured against property that is already mortgaged are known as second charges, whereas loans secured against a property owned outright with no existing mortgage in place are known as first charges

More detailed reports are also available for a small fee

See FAQs for more details

In this case the lender agrees to release the amount withheld over a staged period of time after satisfactory completion and in most cases inspection of the remedial work

At this point you will need to pay your share of the property purchase to your solicitor who will exchange this and the money from the mortgage provider for the Disposition (or Title Deed)

How much do these policies cost? Expect to pay around £5 for every £100 of your mortgage bill

Mortgage in principle A mortgage in principle is a conditional offer made by the mortgage lender to confirm that they will in principle give you the loan you have discussed, provided the information you have given is correct

Be precise when filling out the registration forms

Disadvantages: The final value of the policy may not be entirely sufficient to repay your mortgage or the monthly premium may have to be increased later on in the term of the mortgage to compensate for poor returns

Letting agents will on average charge 10% of the rental, or 15% if they are responsible for such things as repairs, complaints and other matters

(See Offers & Missives), so if you ANY doubts ask your solicitor for advice

The definition of income may also change from one mortgage provider to the next

You should also receive a summary of the present state of the property along with any recommendations concerning future maintenance

The surveyor will not inspect inaccessible parts of the property or areas which are not already exposed

This is covered above

It is normal for lenders to check that any policy arranged is adequate and a fee will sometimes be levied to check the policy, if the borrowers take a policy other than the one sold or recommended by the lender

The APRs quoted by the lender will usually be typical rates, and these act as a guide only as the exact rate offered will be on an individual basis

Typically as a first time buyer you may have less deposit at your disposal and may be seeking cheaper mortgage rates in the earlier years

Each year the original capital sum will remain outstanding

Note any parking facilities or restrictions

When and how to talk to agents When to start taking to an agent about buying is entirely up to you