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Suitability: The flexible mortgage option is suitable in a number of circumstances the most common being those identified below: Self employed or contract workers

Most recent P60 Whilst the banks and building societies will all have different specific requirements these are usually required in all circumstances

The lender will discuss the level of survey required, but at the very least will require a valuation of the property before agreeing to any mortgage advance

The offer includes the purchase price, date of entry, alterations and specialist works together with any inclusions such as carpets and curtains etc

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.

Lockout agreements and contract races Preferable at the time of offer try to ensure that the agent and the seller agrees that higher offers will not be entertained (gazumping)

Exposure to interest rate rises

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

However, try to include as much as possible in the negotiations

For example, setting the price range on your next home

What limitations apply to your current mortgage rate

Try not to widen your search in too much

Obtaining quotes for conveyancing is simple

In the longer term, with flexible mortgage rates, you should see the reduction of the amount owing occurring more quickly than a standard mortgage

Credit scoring assesses your personal circumstances and statistics to ascertain which broad category of borrower you fit in to

If applicable, a redemption fee will come into effect when you repay/terminate the mortgage within the redemption term, as set out in your mortgage advance

Take note of the neighbours - Do they have overlooking views? Do they have pets, or caravans that may end up being a nuisance? Accept a tour by the owner or agent

Investment backed mortgage With this method you pay interest only to the lender and separately take out a suitable investment to repay the capital at the end of the mortgage term

Whilst practically the entire range of mortgage schemes are available to you with the exception of rates designed specifically for first time buyers, moving house may provide an excellent opportunity to consider what your future plans may be

See below for more information about these features

Contents Insurance Home contents insurance protects your possessions against loss, damage and theft

ADVANTAGES At the end of the term, you are safe in the knowledge that the total amount of the debt has been repaid

At the end of the fixed rate (or ‘benefit’) period the rate will normally convert to the lenders Standard Variable Rate (SVR)

Noise abatement orders

Contrary to popular believe, lenders can be flexible

Investment managers may only be changed on an annual basis

Endowments provide life assurance so that in the event of death the mortgage is paid off

All lenders will insist on buildings insurance as the very minimum

Initial property enquiries This is where much time involved in selling and buying is wasted

An arrangement fee is typically charged on completion of the mortgage

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

(See Offers & Missives), so if you ANY doubts ask your solicitor for advice

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

Offers are invited above the stated price