Ask the experts
About our experts...
At John Charcol, we are constantly asked for advice by borrowers on what they should do when it comes to mortgages. As such, we created this section so that you can submit your questions to our experts. The answers are provided by a number of people who have years of experience in the mortgage market. The team is led by Peter Woodward who spent his formative years as an underwriter with one of the major UK lenders and the last 10 years in our Technical Department along side Ray.
So please do submit your question and we will do all we can to answer it as quickly as possible
Please be aware that these answers can only be generic and no personal recommendations can be made.
Posted on 23/04/2010
Is there still a 100% mortgage? I am currently looking to move to a bigger house, but already have a mortgage. Can I swap my current one to a buy to let in order to get my new mortgage? How can I raise the 10% deposit?
Categories: 100%+ borrowing, Buy-to-let, Let-to-buy, Raising capital out of property
Posted on 24/04/2008
My partner and I are looking to buy our first property. I am employed and earn £24,000 a year. He is self-employed and earns around £18,000 a year BUT the problem we have is that he is unable to prove his income as he does not have any accounts. We do not have a deposit therefore a self-certified mortgage is out of the question. What would you suggest is the best option in our circumstances? We have seen a property for £135,000 - would I be able to get a mortgage for that amount on my income alone?
Categories: 100%+ borrowing, First-time buyer
Posted on 04/01/2008
I have a significant amount of personal debt, but a good income and have never bought before. Is there a way for me to combine my personal debt with a mortgage to get onto the property ladder? Is it an option you would recommend?
Categories: 100%+ borrowing, Current rates & the market, First-time buyer
Posted on 12/11/2007
My partner and I are looking at houses as first time buyers we have seen one at 199,950 that has already been reduced and we know that the seller is desparate to sell so we are hoping to reduce the price as much as possible. I have just started a years contract as a teacher on £20,133 and my partner runs a pub on £22,000 how likely is it that we will get a mortgage for this house? We currently have no deposit as we were not intending to buy until we saw this particular house. Also my partner has just bought a car on finance for 25k and while he assures me this wont have a massive impact on a mortgage as we have no other outgoings I however feel it will have massive repercussions for us. Any advice would be appreciated.
Categories: 100%+ borrowing, First-time buyer
Posted on 14/10/2007
My husband and I are both on full time jobs but with outstanding debts of around £38,000. We are paying rent of £900 and we are coping with our out goings with small savings. The problem is, we don't have money for a down payment. Do you think it would be wise to get a hundred percent mortgage with our debts inclusive?
Categories: 100%+ borrowing
Posted on 02/10/2007
We have found a property we love and have put on offer of £175,000 subject to survey.We feel it's a real bargain - It needs a lot of work but the gains are great. However we own a home in Scotland which we are trying to sell for £165,000 (we were renting this out for 6 months - tenancy elapsed). Additionally we work in London and renting a property paying £1,000 per month.The vendor of our dream home does not want to sell to somebody in a chain and may put the house back on the market, not an option we want to take. What can we do to ensure we gain this house without giving the impression of being in a chain? Our joint income is £56,000 plus £12,000 guaranteed bonus.
Categories: 100%+ borrowing
Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not neccessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.
We recommend you seek professional advice with regard to any of these topics where appropriate.