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Blind Bids This is only applicable to buyers in Scotland. If there is more than one party showing and interest in a property then each party will put in a sealed bid before a specified closing date. Often the bid is over the asking price and made only after thorough research and inspection into the value and condition of the property. (Consultation with a professional is always advised) By law the seller is under no obligation to accept any of the offers made, but usually accepts the highest bid. If for any reason the seller wishes to decline all of the offers made, perhaps due to low bid prices, then they can reject the offers and start anew.

the rates for telephone applications may be different from those for online applications

County Court Judgements (CCJ) An adverse ruling by a County Court against a person who has not satisfied their debt payments with their creditors

A valuation of the property is supplied based on the approximate market value of the property

Proposed road works within 200 meters of the property

Using an ISA as a repayment vehicle is growing in popularity but due to the ISAs complexity it is only for the financially sophisticated or borrowers taking advice from a suitably qualified financial adviser

Conditional planning permissions granted

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

Considering the current market conditions Excluding the property itself, the current condition of the national market is a significant factor in the process of negotiation

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

The following planner will help focus on what needs be done and when

Check the plumbing and wiring

The period of borrowing is in excess of say 12 years

This will depend on future investment performance

If you had planned on having any new furniture or appliances, order them now and if possible withhold delivery until you know exactly when you are moving in.

Most lenders and insurance companies offer a combined Buildings and Contents Policy

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Receives search results and deals with any problems revealed

Individuals on tight budgets expecting wage increases over the first few years of the mortgage

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

Another handy tip often overlooked or underrated is to check out the school run or office trips that you would normally take

A seller may ask you to negotiate specific issues or accept your offer in full; In which case by Scottish Law you are fully committed to the purchase

This information is likely to have been given to the seller and will form part of there judgement of your offer

It is normal for lenders to charge up-front fees in the form of booking and/or arrangement fees