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Once contracts have been exchanged, bankruptcy searches on both the buyer and the seller will be carried out

We specialise in helping people who find it difficult to obtain a mortgage or loan

Stamp Duty becomes payable at the time of completion/taking entry and is normally made via a solicitor

the mortgage has to be held for a number of years before the lender breaks into profit

It is usually attributed to either the agent has been too pushy, the buyer has not put enough thought into what they really want or a professional timewaster is at work

So make sure you get the facts

Your solicitor will also be checking the exact description of the property and any title burdens

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

Contents insurance can provide cover for all your household contents - furniture, carpets, curtain, pictures TV, hi-fi, personal possessions etc

Will your furniture fit or will you need to redecorate as a result? Make note of any fixtures and fittings

All lenders will have a set formula that they use to calculate the amount they will be willing to lend which is usually expressed as a multiple of your income

Before the exchange of contracts, you will have to agree on a date for completion of purchase

Amendments to the 1988 Housing Act has reduced the fear of landlords that tenants, once admitted to the property, will prove all but impossible to evict

It may also indicate how genuine the sellers are

Stamp Duty You are required to pay a Government tax (Stamp Duty) on a property priced above £60,000

Booking Fee and Arrangement Fee Both are up-front fees charges levied at the outset of the mortgage

Considering the current market conditions Excluding the property itself, the current condition of the national market is a significant factor in the process of negotiation

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

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

Gain an advantage view point of the roof - Does it bow or are there any tiles missing? Are there signs of any glass being recently replaced or damage to external doors? Possibly indicating signs of break-in

YOU CAN APPLY FOR A LOAN WITHOUT LEAVING THIS SITE! the facility to apply online for your personal loan

This means that all bank rates cuts are automatically passed on to the borrower

Many flexible mortgages come without any Early Redemption Charge so the borrower is not ‘locked-in’ to any particular lender

Current Account Mortgage (CAM)

Overtime and commission may be treated similarly

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

Obtains the title deeds, which are normally held by the building society and asks you to fill in a detailed questionnaire

Flexible mortgage A flexible mortgage may enable the borrower to pay off all or part of their mortgage without paying a penalty

What other costs are involved in any remortgage scheme? What solicitors fees are incurred, valuation costs and set up fees? Once all this information is available you will be in a position to make an informed decision on how you might wish to proceed