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 works in our technical department. Peter spent his formative years as an underwriter with one of the major UK lenders so what he doesn't know, quite frankly, isn't worth knowing...
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 13 February 2009
I am having difficulty with Experian and my credit report. Despite having no loans or debt and savings my credit report comes's up with poor. i am trying to purchase a £225,000 house and have 40% to put down. Can I get a mortgage...
Category: Bad credit, Special circumstances
Posted on 12 February 2009
I am currently living overseas due to work commitments and this is likely to continue for the forseeable future. Currently we own a flat in the UK in my wife's name which we lived in before we left. We are now looking to buy a...
Category: Buy-to-let, Ex-pats mortgaging in the UK, Second properties, Special circumstances
Posted on 12 February 2009
Me and my partner have just been turned down by the halifax for a mortgage die to our credit score, we are existing mortgage customers with the halifax. We are looking to buy a new build property for £164,995 and have a 20%...
Category: New build
Posted on 11 February 2009
My husband and I are in our 4th year of an IVA and our fixed rate mortgage ended in January so we are now on the variable rate. We bought the house in 2001 for £43,000 but have a secured loan of £36,000 when we had the house...
Category: Bad credit, Consolidation of debts, Remortgaging, Secured loans
Posted on 11 February 2009
Assuming a property value of £100000 on a buy basis of 75% and rental on 25%. What amount of deposit would be needed and what would the monthly outgoings be assuming it was a 25 year mortgage for first time buyers?
It is...
Category: First-time buyer, Shared ownership
Posted on 11 February 2009
MY PARTNER HAS BEEN DIVORCED JUST OVER A YR BUT STILL HAS A JOINT MORTGAGE AND DEEDS TO A HOUSE HIS EX STILL LIVES IN. WE ARE SET TO MARRY SOON WILL THIS POTENTIALLY AFFECT ME OR WOULD I BE ENTITLED TO ANY OF THE HOUSE. IF WE HAD...
Category: Legal matters, Separation or Divorce, Special circumstances
Posted on 11 February 2009
I am considering fixing my mortgage for 5 or 7 years. Do you think I should do so now or wait for the likely further reductions the base rate over the next few months?
Bank Rate is likely to have to remain very low until...
Category: Fixed or Variable?
Posted on 7 February 2009
Hi,
I live with my mum who is retired and had my name added to her endowment mortgage, because I couldn't afford to buy a house by myself (I earn £20,000).
Over the years I have built savings of £10,000+ and would like to...
Category: Second properties, Special circumstances
Posted on 7 February 2009
My low cost endowment policy will be maturing in March which amounts to around £16,500. This endowment is not tied to my mortgage. Do I use this money to pay off the mortgage which is around £23,000 or put it somewhere where it...
Category: Endowments
Posted on 7 February 2009
Hi, I am a single mum and live in the house that I shared with my ex husband. The mortgage and house deeds are solely in his name, however I have paid the mortgage myself for the past two years. Everything is amicable between...
Category: Separation or Divorce
Posted on 6 February 2009
Hi, I am currently coming to the end of a fixed deal, my morgage offer states "From the 01/03/2009, the rate that will apply is a variable rate which is 2.52% above the BOE base rate" does this mean this is a tracker? Does this...
Posted on 6 February 2009
I have a property worth 140-150k.
I wish to buy a second property which needs renovated for 140k let to buy seems the right way but how do i raise the capital for self cert deposit now as i think the property will sell...
Category: Let-to-buy, Raising capital out of property, Remortgaging, Self-certification
Posted on 6 February 2009
Hi
My wife has enduring power of atourney for her mum. Her mum has been moved from her property to a sheltered home as she is suffering alzhimers. Now, the property is a commercial dwelling with a shop and above flat. It has a...
Category: Buy-to-let, Commercial, Remortgaging, Special circumstances
Posted on 6 February 2009
Hi, I have recently put in an offer on a shared equity scheme property and started legal proceedings however at the valuation stage I was declined my mortgage by Abbey. I have since retrieved a copy of my credit report which...
Category: Bad credit, Shared ownership
Posted on 5 February 2009
Hi
Not sure how best to proceed. Looking to buy. Have a good deposit. Salary level not high. Can I still get a good rate mortgage? Should I go for tracker or a fixed rate? please help.
thanks much
SJ,
Without knowing...
Category: Fixed or Variable?
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 Limited. All comments are made in good faith, and John Charcol Limited will not accept liability for them.
We recommend you seek professional advice with regard to any of these topics where appropriate.
Categories
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