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The lender can give you a settlement figure, normally over the phone

The skilled agent will ask a series of questions that determine how serious you are, what properties will be of interest, what else they can sell to you and how quickly they can do it

If it is clear at this point, then there should be no problems further down the road when it come to draft-contract preparation

Be aware that making an offer may have legal consequences for you

This is more likely to occur within the first 3-5 years of the mortgage term and more common with discounted, deferred or fixed mortgages

If you have a flexible mortgage, you may be able to vary the amount of the monthly repayment and you may be able to pay in or draw out lump sums

It provides no benefit to you, it is for the lenders protection only

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

Buy To Let Mortgages Buy To Let mortgages are taken out to buy a property for the sole purpose of letting as an investment. These are normally second mortgages. The rates charged on second mortgages tend to be about 0.5% to 1% higher than first-home mortgages, so it is likely that you will pay more for your loan on a Buy To Let Scheme. This is due to the nature of the loan, which is considered a higher risk for the lender. Lenders also tend to require larger deposits as most will lend only 75% of the property value though some may go as high as 85%. You are required to meet certain criteria, which vary from lender to lender, but fundamentally your application will be based on 1) Your income versus all existing loans. 2) The anticipated rental income covering a certain percentage of the loan interest payment. 3) Plus the normal credit checks etc.

If using a removal firm we suggest obtaining several quotes first

Buildings survey Also known as a structural survey

The above mortgage products may have other criteria which will require evaluation before deciding if the product is suitable for an individual

Each year the original capital sum will remain outstanding

You can choose cover according to your needs

If the rate offered is a variable rate, it may rise or fall in line with any base rate changes during the term

It is important to note that comment within the report is limited to those areas that are considered accessible at inspection

5 times a single salary and 2

In return for an annual or monthly premium the insurance company will cover the cost of replacing or repairing an item that is lost, stolen or damaged

A standard policy will typically include such cover as loss or damage to your possessions while in your home, alternative accommodation to the value of 15% of the value of the sum assured

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

Lenders may offer payment breaks or repayment holidays as part of their personal loan package and these allow you to take a break from your repayments at the beginning of the loan or at any agreed point during the term

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.

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

Just Financial Advice UK Ltd is an independent mortgage advisor and will be able to help discuss the options with you, answer any questions you might have and agree a course of appropriate action

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

A capped rate mortgage is very similar to a fixed except that if the variable rate drops below the capped rate, the borrower will make payments based on the lower variable rate

Proceedings relating to any infringement of building regulations