Friday, 30 January 2015

Checklist for arranging a mortgage

  • Make sure there is no Mortgage Indemnity Guarantee.
  • Make sure there is no tie-in to Standard Variable Rate after the fixed period.
  • What are the mortgage fees? (Some lenders waive their application fee if you apply online.)
  • If there is an arrangement fee, is it refundable if the deal falls through?
  • Are lump sum payments possible during the term of the fix? 
  • If so, are these credited immediately, monthly annually?
  • What are the consequences of moving within the (e.g. two year) fixed period?
  • What are the consequences of switching lender at the end of the (e.g. two year) fixed period?
  • Is it compulsory to take insurance through the lender?
See other tips on Buying a Property and Selling a Property.

No comments:

Post a Comment

Note: only a member of this blog may post a comment.