buy to let, uk mortgages

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Possibility of losing out should interest rates fall below your agreed rate

Anywhere between 1% and 12% cashback has been available

Switching between provider can only be completed on an annual basis and penalties may be incurred

Cashback mortgage A Cashback mortgage provides you with an amount of cash upon commencement of the mortgage

These may include 100% mortgages or a range of fixed or capped rate mortgages (see Mortgage Guide) unavailable to non-first time buyers

When lenders quote their APRs they will state whether these are typical or whether they are set at one rate for all successful applicants, regardless of the risk they present

Advantages: Monthly payments can adapt to the level of monthly income you receive

Have there been any previous offers and what happened to the sale? Having had a previous buyer does not necessarily indicate that there is a problem with the property, but it does require investigation

the mortgage balance minus the positive balance held in the current account

Contrary to popular believe, lenders can be flexible

Advantages: Complete flexibility within the mortgage market allowing option to move from lender to lender should the opportunity to take advantage of more competitive rates elsewhere arise

The elements incorporated within the plan include cash, stocks and shares as well as insurance elements

Your lender agrees a set rate of interest for a specified period of time

If the property was purchased outright, the buyer keeps the deeds

Current Account Mortgage (CAM)

You can choose cover according to your needs

Some sellers prefer to keep their property on the market until exchange of contracts so that if the transaction falls through, they have a back-up buyer

Providing a combination of the security of knowing the maximum monthly cost for a set period with the opportunity to take advantage of any downward movement in the mortgage rates, this is a popular choice for many borrowers

The maximum limit is £1,000 (£3,000 in the current tax year) for stocks and shares and cash, with the insurance element being £1,000 immediately

Capped Rate Mortgage

The inspection is limited to comparing the price being paid against similar property in the area and checking the general condition and location of the property

To obtain a mortgage in principle you will need go through the same motions as applying for an actual mortgage

Until the arrival of flexible mortgages most, if not all, UK lenders were charging interest on an annual basis which meant that borrowers making over-payments were not getting the benefit straight away because it could be a year before the capital was reduced by the over-payment

Understandably this is due to protecting their investment

The deed of transfer is prepared and approved and if the buyer has raised finance a mortgage deed is prepared

It is still possible to have up-front charges for discounted products and an Early Redemption Charge is common

If a person has a County Court Judgement against them it will have to be satisfied before they can get a mortgage

At Just we can complete a full analysis of the market using the most up to date information available

The current options available to you in conjunction with interest only mortgages include endowment, pension or an Individual Savings Account (ISA) Advantages: There are a variety of investment vehicles available to use to repay interest only mortgages, some offering tax advantages

However should rates increase the payments will be ‘capped’ and will not rise over the capped rate

However, in the greater scheme of things it may prove worth paying as a more competitive insurance may be had elsewhere

Ideally suited to the self-employed Individual Savings Accounts (ISA) Advice The Basics: Introduced in April 1999 individual savings accounts were designed to replace Personal Equity Plans

YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOANS SECURED ON IT

A system of feudal tenure exists in Scotland, under which the seller has the power to impose permanent restrictions on the future use and development of the property and land