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 27 January 2010
I am planning on buying my council flat and living in it for a short while on a Fixed rate mortgage, I then plan to let the property. Will I have to change my mortgage to a buy to let mortgage or can it run on a standard...
Category: Buy-to-let
Posted on 13 January 2010
Hello,
If I change my current mortgage to a buy-to-let is the price likely to increase?
Category: Buy-to-let
Posted on 30 August 2009
I have a BTL mortgage of £140k on property bought for £177,000 now valued at £200,000. Currently on a base rate tracker of 0.7% rising to 0.9% next year, rental income is £9600pa. I also have a residential morgage of £120,000 on...
Category: Buy-to-let, Remortgaging
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 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 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
Posted on 30 April 2009
i arranged a BTL mortgage with Mortgage Express 2 years ago when ALL their variable rates used to track BOE base rate at 2% or 1.75%. Mortgage Express are now refusing to pass the base rate cut and claim that the mortgage...
Category: Buy-to-let
Posted on 17 April 2009
I gained permission to let my flat 2 years ago by my lender for 1 year. Although they have since not contacted me to discuss where I stand on this. I came off my fixed rate in July2008 of 5.05%, but have subsequently benefited...
Category: Buy-to-let, Remortgaging
Posted on 9 April 2009
I am a British citizen who recently moved to the USA after getting married. Mortgage on my main UK residence is due to expire in September. I am not working at the moment but my husband is and can afford maintaining the two of...
Category: Buy-to-let, Remortgaging
Posted on 3 April 2009
I have equity of 130000 in a property valued at 150000. I want to buy a second property to retire to in 3 years when I will be 60. In the meantime I would like to rent out this second property.
I have an income of £48000 and...
Category: Buy-to-let, Interest only vs repayment, Legal matters, Remortgaging, Tax issues
Posted on 14 March 2009
HI I AM LOOKING FOR A BUY TO LET MORTGAGE WITH A 10% OR 15% DEPOSIT ON A 11400 LOAN
Category: Buy-to-let
Posted on 14 March 2009
Having left the UK to live and work in Canada in 2006, the mortgage on our old UK main residence in the UK is due for renewal later this year. the house has been succesfully rented since we left, but we are unsure if we can...
Category: Buy-to-let, Ex-pats mortgaging in the UK, Remortgaging
Posted on 13 March 2009
i need a residential buy to let mortgage. i have got 15% deposit.
A 15% deposit would have been sufficient before the credit crunch, subject to the rental income being adequate, but the minimum deposit required now is 25%,...
Category: Buy-to-let
Posted on 12 March 2009
I HAVE A MORTGAGE FREE PROPERTY WORTH(340000) AND WANT TO RELEASE MONEY AGAINST IT(10000)TO BUY ANOTHERPROPERTY.N.ROC SAY YES BUT NO TO LET IT OUT, I WANT TO DO THIS. IS THERE ANY COMPANY THAT WILL ALLOW THIS?
Many lenders...
Category: Buy-to-let, Raising capital out of property, Remortgaging, Tax issues
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
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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