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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

In many cases, lenders offer different rates depending on the method by which you apply

Title searches at the Land Registry will also be carried out

They deal with surveyors every day and should be able to recommend a good one

Watch out – the ERC can sometimes last longer than the fixed rate period e

The first of these relates to the current market value of the property to which the mortgage relates

It is important to note that you will still need to fund the shortfall in the advance at completion, albeit on a shorter term basis

If added to the loan then interest is charged over the duration of the loan

This may be an expensive choice, as in the vast majority of cases Just are able to significantly reduce your mortgage rate, although it is of course imperative to consider the potential cost of any redemption penalties on your existing mortgage

The initial pay rate would therefore be 3

The Act contains strict regulations about how money is lent and covers unsecured loans up to £25,000

Whereas in Scotland, the survey is completed before making a formal offer

This can be an indication of overpricing, adverse surveys or valuations and point to future difficulties in selling

The most important fact about an interest only mortgage is that the monthly repayments do not repay any of the outstanding capital balance

Annual Versus Daily Interest Rate Calculations Some lenders offer mortgages with daily or with annual interest. The best option depends on your personal circumstances, for example if you know you will want to make overpayments or regular capital payments on your mortgage, you should probably consider a daily interest type mortgage. However, if flexibility of payment is not a requirement, annual interest may be more appropriate.

You can also obtain wider protection to include damage or theft of shrubs, trees, flower beds, garden ornaments, gates and fences

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

Personal Possessions (including cash) on an all risk basis, in and outside the home

A booking fee is paid to reserve funds on a mortgage product that has limited funds available e

At the end of the policy term there will be a final one off bonus called the terminal bonus which may in some instances represent a large proportion of the borrowers final pay out

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

It will not protect you to the same degree, but if speed is of the essence, it can save weeks

A previous buyer will only be too happy to get some of the costs back

So make sure you get the facts

On-line conveyancing On-line conveyancing is one of the latest improvements in the legal process of buying and selling

g Loans for holidays may be restricted to a 12 or 24 month term)

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

Lenders now offer insurance policies that pay mortgage bills for around a year if you lose your job

A survey carried out by the mortgage lender should indicate what sum to insure

Charges can be significant

There is no reason, as far as legal procedures are concerned, why this cannot be quicker

Why indexed linked? - As time goes by, the rebuild and repair costs of any property damage are likely to increase, thus if the sum insured does not rise in relation to these, you will end up being under insured

A good site will ask if you want to receive them or not

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