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Gazundering Gazundering is when the buyer refuses to go ahead with the sale unless the price is reduced. There is nothing the seller can do about this apart from negotiate on the price or lose the sale - and possibly the house they are in the process of purchasing. In such situations any estate agent worth their salt will do their best to negotiate on your behalf, or failing that, will attempt to find you a suitable new buyer with all possible haste. Fortunately, it is rare to come across gazundering but in a slow housing market it is more likely to occur as prices may be falling.

First and most important: If you have a property to sell, obligation a free appraisal from more than one estate agent

Usually calculated on a daily basis and added to the loan either monthly, quarterly or annually

Lenders have been known to charge a switching fee even if you refused to accept the lenders insurance cover at the time of taking out a mortgage

Once all documentation is in order (after checking with you and your lender) the solicitor will send the title deeds for recording in the Register of Sassines or registration in the Land Register of Scotland

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

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Individuals looking to repay their mortgages quicker than their basic income would indicate as, possibly the result of expected bonus payments and or share options

Buyers should also be aware that they are responsible for the insurance of the property after the exchange of contracts

The cost is usually dependent upon the type and size of property, but expect to pay between £300 - £800

Legal Fees It is necessary to have a solicitor or licensed conveyancer to act on behalf of the mortgage applicant and the lender in the house purchase or remortgage transaction

Stage 3 - completion On the completion date, the buyer obtains all rights to the property in return for the actual transfer of the funds covering the purchase price (less any deposit already paid)

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

a 3 year fixed rate with a 5 year ERC

The law on moveables is quite complex

The first of these relates to the current market value of the property to which the mortgage relates

What other costs are involved in any remortgage scheme? What solicitors fees are incurred, valuation costs and set up fees? Once all this information is available you will be in a position to make an informed decision on how you might wish to proceed

As a tip, note that in the UK you can only drive up to a 3 tonne vehicle before you need an HGV license

Outline Information is available free of charge, by entering a postcode

Compulsory purchase orders

Advantages: The tax advantages of individual savings accounts allow you to receive tax-free returns