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These are often referred to as credit scoring facilities

Portable Mortgages Some mortgage products are portable (subject to the lender’s policy), which means if you move home you may be able to transfer your existing mortgage onto the new mortgage for your new home if you stay with the same lender.

In either case the difference will need to be found before completion

You never know, it could be a deciding factor involved in your decision to purchase or not

a £47,500 mortgage on a purchase price / valuation of £50,000 would result in a £750 charge on a typical MIG charge of 7

Title Deeds Title Deeds consist of a pack of legal documents, which a lender holds for the duration of the mortgage as security against the loan. The documents include who owns the legal title to the property and land, the results of solicitors’ searches and a map of the property with the legal boundaries defined.

Tracker Mortgage A Tracker Mortgage is linked to a benchmark interest rate, such as the Bank of England base rate. This is usually only for a set period of time. The rate you pay moves up and down in line with the benchmark selected. At the end of the set period, the Standard Variable Rate normally applies

The above mortgage products may have other criteria which will require evaluation before deciding if the product is suitable for an individual

Written quotations are available on request

If your instincts tell you to leave it alone

This may be due to a number of factors, but mainly occurs due to the condition of the property

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

Flexible Mortgages

Stage 2 - Assessment of draft contracts This is the point at where both parties solicitors negotiate the deposit payable on exchange of contracts, the time between exchange and completion and any allowance by the seller to let the buyer have access to the property ahead of time

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

The potential for your rate to reduce unlike the fixed rate mortgage

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

As a consequence of not being ‘locked-in’, the rate offered on these schemes will usually not be as competitive as for mortgages with redemption penalties, making them most suitable for those who are likely to keep track of current rates and wish to remortgage quickly if they find a better rate, or those who may have to repay their loan in the first few years

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

When the benefits are eventually taken, the mortgage is repaid using tax-free cash from the remainder of the fund

For a borrower wanting one home for their finances this is an attractive option

In England and Wales a survey is normally made after the offer has been accept subject to contract

The seller in turn will most likely invite you to make an offer on or before a closing date

Those with FRICS, ARICS or Tech RICS after their name are members of the Royal Institution of Chartered Surveyor and are subject to the RICS formal complaints procedure if clients are unhappy with the work carried out

Just Mortgages UK will explain the many schemes available and will help you to find the most suitable option for your circumstances

Index Linked Buildings Insurance This type of insurance covers the main structure of your home (not the contents) and is required to protect you against the cost of rebuilding your home in the event of fire, flood or similar disaster

The seller is legally required to answer these enquiries honestly! Prepares and sends a package of legal information and draft contract, setting out the main terms agreed, the names, price, special terms, and details of the legal ownership Requests a settlement figure for your mortgage and any other secured loans

Equally, you may consider whether the most suitable mortgage vehicle for the future would be a repayment or interest only mortgage (see our Guide to your Mortgage Repayment Options) and this may be related to the prospect of remaining in the same house for the remaining term of your mortgage

The amount available usually ranges from £3,000 to £50,000, although some lenders will consider lending up to £100,000

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

It is possible that your investment may provide a surplus lump sum or pay off your mortgage early

Redemption penalties can prevent restructuring of your mortgage and associated finances