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For more information see: Vital questions to ask the seller or agent Making a deposit Express the seriousness of your offer by offering to put down a deposit as an act of good faith

Variable Rate Mortgages

You believe that the investment market over the period of your mortgage is likely to generate a cash surplus over and above that required to repay the mortgage

damp and timber reports, planning consents for alterations and extensions

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

If you want to continue, find out if the previous buyer had completed the searches or any survey

Alternatively the title deeds will be sent to the mortgage lender in the case of raising finance for the purchase

This will prove handy at the time of making an offer

UK Pensions Advice

For a borrower wanting one home for their finances this is an attractive option

These are more detailed than a lender valuation but they produced on behalf of the applicant

Your local agent can give you a good idea here

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

Pay particular attention to buildings insurance

For more information see: Valuations and surveys Removal costs Removal costs vary according to whether your using a removal firm or doing-it-yourself

The market conditions are in your favour (see details above)

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

An investor may only hold one of each Mini in any tax year

Arrears This describes the amount the borrower is behind in his mortgage repayments schedule

Once the written negotiations (missives) have been completed, your solicitor will obtain the Title Deeds to ensure the seller is the genuine owner and check with the local authority on a range of matters (searches) to make sure you understand how or whether your property is affected by rights of way, restrictions of use and so on

This tends to be around £200 - £250 and becomes payable as soon a the reservation is made

5%

The earlier you contact them, the more sympathetic they are likely to be

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

The seller in turn will most likely invite you to make an offer on or before a closing date

The typical rate is a rate that is offered to over 50% of successful applicants, and the exact rate offered to you will depend on your personal circumstances, the amount and term of the loan along with the credit assessment procedures

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

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