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

More detailed reports are also available for a small fee

conducts a local authority search to highlight planning, financial and other charges affecting the property

As a general rule, it is advisable to compare the APRs of different loans, as this is a good way to determine how competitive they are

It acts as a form of insurance for the lender not the borrower

Borrowers with new loans only get the interest paid after waiting for nine months

Setting the completion date The standard time between exchange of contracts and completion is four weeks

This may be an expensive choice, as in the vast majority of cases Just are able to significantly reduce your mortgage rate, although it is of course imperative to consider the potential cost of any redemption penalties on your existing mortgage

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

Instantly compare hundreds of credit cards and rates to help you choose the best deal

There are many different types of mortgages and there will be one out there that best suits you

OTHER TERMINOLOGY Adverse Credit If a borrower has a history of poor credit usage then this is described as Adverse Credit

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

5%

Assuming that you have your financial preparations in place (a mortgage in principle)

This can be an indication of overpricing, adverse surveys or valuations and point to future difficulties in selling

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 property¹s mortgage repayments (interest only)

Should your lender waver or reduce the redemption fee then it is likely that it would be on condition of keeping your business with them

During the early years you will find the charges in certain policies will eat into the premiums and reduce the amount you are accumulating towards the repayment of your mortgage

This is a comprehensive report that provides information on construction and materials used as well as major and minor defects

Ask how long has the property been on the market and if there has been a price reduction

Dealing with adverse valuations Adverse valuations occur in certain instances where the valuation figure is lower than purchase price of the property