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 11 June 2009
I'm currently an expat facing retirement next spring, and want to obtain a mortgage on a UK property to live in. Can you advise how this can be accomplished, ie. can your company help.
Category: Ex-pats mortgaging in the UK
Posted on 9 June 2009
Hi,
My partner and myself currently own a property bought for £84,000 plus £9,000 loan to cover furnishing and decorating costs. We would like to move to a bigger home in the next year or two but would like to also rent out...
Posted on 8 June 2009
I own outright a house valued at 350,000 and I currently have a 2nd home value at £125,000 with an outstanding mortgage of £50,000. I would like to purchase another home as a 3rd home valued at £175,000. I have a cash deposit...
Category: Buy-to-let, Remortgaging, Second properties
Posted on 7 June 2009
I ran up a few credit cards whilst at university which resulted in a default around 3 years ago. I have yet to pay them off in full but am paying them each month. My wife and i earn a joint salary of £40,000 and want to buy our...
Category: Bad credit
Posted on 5 June 2009
I am coming to the end of a fixed rate buy to let mortgage with Chelsea BS at 4.99% they are no longer offering BTL mortgages and their SVR is 5.79% I need to re-mortgage without it costing me more, where can I get the best deal...
Category: Buy-to-let, Remortgaging
Posted on 2 June 2009
I owe £116,815 on my interest only mortgage, I am making a capital payment in December so the balance will be 108k, getting my ltv at 60% borrowing. The mortgage is libor plus 1.5% and I'm only paying 2.77% at the moment. I don't...
Category: Fixed or Variable?, Remortgaging
Posted on 2 June 2009
Our fixed term has ended and we have an interest only mortgage. I want to change to a repayment mortgage now that the interest rates are low. I am earning £13,500 plus Working Tax Credits of approx £30 a week and my partner...
Posted on 2 June 2009
Is it possible for my son to get mortgage to build an extension onto our home for him to live in. I have 9 years left on the mortgage and I cannot afford to build the extension.
It is impossible for me to advise you on the...
Posted on 30 May 2009
We have two years left on a fixed rate mortgage at 4.89%. We are concerned that when this date arrives interest rates will be a lot higher. We have been offered a new fixed rate of 4.79% for 7 years but it will cost us £1400 to...
Posted on 29 May 2009
I am a first time buyer. We will be looking to live in the property for 2-3 years but are likely to leave the country for a period of time after that. I am interested in taking out an interest only mortgage. Am I obliged to...
Posted on 27 May 2009
Hi
I own a house with my ex partner although I no longer live in it. I have been paying my half of the mortgage directly to her as the payment for the mortgage comes out of her bank account. I have just foudn out that for six...
Category: Bad credit, Separation or Divorce
Posted on 18 May 2009
My partner owns our home outright. He has little or no income. I live with him and earn a reasonable wage. Is it possible for me to raise a secured loan for home improvements on his property? My name is not on the deeds
As...
Posted on 8 May 2009
We are trying to move but may take a hit on the negative equity of around 20,000. I can probably find 15 of that but would the lender carry the 5000 over to a new mortgage?
No lenders currently allow their borrowers to “port”...
Posted on 5 May 2009
I live with my partner but the mortgage, bills etc. are all in his sole name. I am on the electoral roll. He has a good credit rating whereas mine is bad. I am thinking of entering into a debt management programme with CCCS but...
Category: Bad credit, Remortgaging
Posted on 30 April 2009
My partner has a residential mortgage and wants to move in with me and let his house. What is the best way to do this? He does not have any equity in the house at present.
As your partner has no equity in the property (a...
Category: Buy-to-let
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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