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Discounted Rate Mortgage

You may not get a straight answer, but at least the owner and agent will be aware that you know the score

In most cases, it is simply not worth it

In addition lenders frequently apply an Early Redemption Charge (ERC) for fixed rate mortgages

The opportunity to access the investment proportion of your mortgage in the event of financial difficulties

So as a rough ‘rule of thumb’ a capped rate is better to have than a fixed if all other factors are equal

Understandably this is due to protecting their investment

The law on moveables is quite complex

The lender may permit over-payments and lump sum payments, which allow you to clear the loan over a shorter term than that agreed at the outset

The seller is legally required to answer these enquiries honestly! But do they? We believe not always

The seasoned mover is likely to have learnt from past experiences to exactly that

The experienced agent is likely to be skilled in the art of negotiation and know what buttons to press

FIXED CAPPED DISCOUNT VARIABLE Fixed Rate Mortgage

Look out for fixed features in the garden such as greenhouse, garden sheds, birdbaths, statues etc

First time buyers looking for security during the first few years of setting up home

5%

Capped mortgages enable you to place a limit on your monthly mortgage commitment, plus they benefit from falls in interest rates

At this point a survey will need to be arranged so that a firm and informed offer may be made

In such circumstances the borrower will be facing a significant increase in their monthly mortgage payment at the end of the discount benefit period

Hence in this situation you are likely to stand a greater chance of obtaining a significant price reduction

It will be based on settling the mortgage at that moment in time, so the final figure at completion/taking entry will vary marginally

This can be of great advantage in determining outline information before you go to the time and expense of having a survey and local searches made

The survey does not necessarily supply a property valuation, but it should highlight any defects that could end up costing a fortune to make good

Normally the cashback is offered as a package of benefits e

Mortgage lenders are pretty strict on what kind of survey they require and who completes the survey