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 31/05/2010
I currently have a residential mortgage. I am trying to buy another house below market value before the auction date. I will sell that house after couple of months.
Would BTL mortgage or bridging loan be suitable to buy this house?
Categories: Bridging loans, Special circumstances
Posted on 08/04/2010
I've just put my town house on the market here on the south coast for £229,000. Plenty of interest, but seems to be in a chain. Seen a house which , even with my savings, would need to find another £160,000 to secure. I am 64 years old. I have 2 pensions amounting to around 16000 a year. Any ideas please?
Categories: Bridging loans
Posted on 11/06/2009
Hi,
I am looking at investing in a second home. I currently have a mortgage of 83k on a property worth 115, but am looking to buy a second house to renovate and sell on. I am looking at a maximum of £50 on the second property. What are my options for funding this second house? Am I able to take another mortgage out for £50.? MY income is £30k
Thanks
Sue
Categories: Bridging loans, Remortgaging
Posted on 04/03/2008
I will be 75 in October. I live alone, am disabled, have a fixed retirement income and need to sell my bungalow and purchase a flat in town. Is there a way that I can buy a flat and move in and not pay anything until the bungalow is sold?
Categories: Bridging loans, Mortgages in retirement
Posted on 07/09/2007
We have a flexible mortgage owing £127,000 left over 13 years monthly repayments of £1,241.00. We have had our house on the market for some months and it has not sold. We have found a property we would love to buy for £315k. What types of mortgage would you suggest?
Categories: Bridging loans, Buy-to-let, Lower mortgage payments, Second properties, Valuations, Freehold, leases & unusual property
Posted on 26/07/2007
What sort of costs should I expect if I need to take out a bridging loan for a couple of months to stop the chain breaking? I've found a new property but have not yet sold my old house.
Categories: Bridging loans
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.