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Ask about the reason for the sale

An estate agent has the duty by law to inform the seller of all offers made on their property, regardless of an offer having already been accepted

Regular checking of the policy fund itself by the borrower and the lender should minimise any risk

The Lender offers a discount on the Standard Variable Rate (SVR) for a specific period of time

There will usually be a required period of payment before protection will become available and some people may be excluded from its cover

Existing endowments can be used to support a new mortgage with any ‘additional lending’ over the value of the projected maturity balance being covered on a repayment basis or with an alternative repayment vehicle

Without going into detail to explain this feature the up-shot is that over-paying the mortgage on a monthly or regular basis, even by a relatively small amount, will reduce your mortgage term by years (hence saving payments)

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Each year the original capital sum will remain outstanding

Free Valuation or Refund of Valuation A free valuation requires no up-front payment from the mortgage applicant whereas a refund will only be made when and if the mortgage application completes

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

coal mining search to check for subsidence; check to see if there are some planned major road developments going through the back garden etc

A good site will enable you to register your requirements and send you the latest property details by email

Mortgages offering a 5 or even 6% cashback can be found which would mean a borrower taking a £70,000 mortgage would receive £4,200 on completion (at 6%)

Title searches at the Land Registry will also be carried out

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

Repayment mortgage With a repayment mortgage you repay, normally on a monthly basis over an agreed term, the money you have borrowed (known as capital) plus the interest charged by the lender

Try not to widen your search in too much