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Making an offer in its self is a simple process, but getting the price you want or simply securing your ideal home may require a bit more determination and skill on your behalf

It should be noted that individual savings accounts are relatively new products and as with any piece of new legislation there is always some degree of uncertainty over its long term future

The period of borrowing is in excess of say 12 years

Preparing the ground to buy No one likes a timewaster and the professional agent will spot one a mile off

you as a loyal customer with a new loan

Has it been recently decorated? Does it require any major work or modernisation? Ask what else is included in the sale

Let your lender know your intentions and ask under what circumstances may they be prepared to waver the redemption fee

In most cases, it is simply not worth it

Disadvantages: In the first few years of the loan the largest proportion of your regular monthly payment goes to pay off interest – the balance outstanding is hardly reduced at all

a 3 year fixed rate with a 5 year ERC

As you would expect lenders apply an Early Redemption Charge with cashback mortgages

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For a mortgage secured on a property, insurance may be required

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

You can also seek advice from a voluntary organisation such as The Citizens Advice Bureau

At the very least a mobile phone

At the end of the term, therefore, you will need to repay the capital

With Profits – here the monthly premiums are pooled with other investors

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.

it may not appear on the mortgage Offer as Mortgage Indemnity Charge or High Percentage Lending Fee

There is no reason why completion may not take place at the same time as exchange providing all the necessary conditions have been fulfilled

Lenders offer insurance policies or payment protection schemes to protect you in the event of accident, illness, unemployment and death (subject to conditions), for which the charge is added to your monthly repayment

Customers cashing-in an endowment policy in the first few years after inception can receive less than the amount invested

Default Failure of an individual to make payments on a mortgage at the correct time or to not comply with the mortgage companies requirements

5%

A buildings policy covers against storm damage, fire, flooding etc and relates to the fabric of the house or flat etc

Your local agent can give you a good idea here

Subject to your circumstances, you may be able to borrow up to 125% of the property value

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

There are more properties on the market than there are buyers

Examine these policies carefully

Homeowners with older mortgages only have to wait eight weeks to get half of their interest paid, and after 16 weeks they get it all paid

There are many reasons why a seller may want a quick sale