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Disadvantages: Generally the rate will not be competitive in relation to the market

Advantages: Generally, the rate charged will be lower than the variable rate applicable under a standard mortgage

Searches are often one of the major causes of time delay

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

Home working equipment cover

Much depends on the agent, the seller and your confidence in your negotiation skills

Suitability: An ISA linked mortgage is the most suitable option in a number of circumstances the most common being those identified below: This option is suitable for individuals willing to take some degree of financial risk

At least you then have the information regarding how the seller would rather proceed

A good starting point is to offer around 5% to 10% less than the asking price, although this greatly depends on market conditions

For more information see: Searches - what they should highlight Land registration The Land Registration fee will cost from £40 to £800

Normally a lender will require a non-refundable booking fee in advance to reserve this option

It may be that administration charges, mortgage indemnity insurance, or building and contents insurance costs have been added to the amount you originally borrowed

Other advantages of flexible mortgages are that payment holidays can be taken during the year and extra funds are normally available via a drawdown facility

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

This is covered above

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

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

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

Individuals looking to repay their mortgages quicker than their basic income would indicate as, possibly the result of expected bonus payments and or share options

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

This is known as an Adverse Valuation and may occur due to any number of factors, but in most cases it is connected with the condition of the property

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

DISADVANTAGES There may be financial penalties for making lump sum/overpayments into your mortgage account

Valuations and mortgage reports Note, a valuation is not a survey

For more information see: Vital questions to ask the seller or agent Making a deposit Express the seriousness of your offer by offering to put down a deposit as an act of good faith

These bonuses termed either annual or reversionary cannot be taken away

APR may vary