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 31 August 2009
Hi we have a house worth £380k and mortgage left to pay of £195k. We would like to buy a holiday cottage to let in Ireland for £130k do you think we will be able to get a mortage based on the equity in our house? And if so what...
Category: Buying abroad, Raising capital out of property, Remortgaging, Second properties
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 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 2 February 2009
A potential route out of negative equity?
My husband and I have a Together mortgage with Northern Rock for £129,000, but since recent price falls believe our house to only be worth c. £110,000. Between us we earn c. £60,000...
Category: Buy-to-let, Raising capital out of property, Second properties, Special circumstances
Posted on 16 May 2008
My mother had a fall recently and after several weeks in hospital she is now staying with me as I live in a bungalow. We are very overcrowded so it is not an ideal situation. Her house is on the market for 89950 which is a...
Category: Mortgages in retirement, Raising capital out of property, Special circumstances
Posted on 25 February 2008
We would like to buy a house to renovate. Would a bridging loan be suitable? Or are we wasting our time applying? We currently have a mortgage with the Nationwide but we wanted to do this as a separate entity without releasing...
Category: Raising capital out of property
Posted on 18 February 2008
I currently own outright a property worth £165,000. I earn between £35,000-£40,000 per annum and am looking to obtain a BTL property. I could command about £400-£450 a month in rent for the location and would like this to pay a...
Category: Buy-to-let, Raising capital out of property
Posted on 9 February 2008
We have planning permission to pull our house down and build 3 instead. Can I raise a mortgage on the existing house to fund the development (we have no mortgage at present)? If so, what % of the existing house value could I...
Category: Raising capital out of property
Posted on 8 February 2008
Hello there, I have inherited a property that needs a considerable amount of work and funding. I am trying to work out whether to borrow money against my own property or the house I have inherited? The collateral in my house is...
Category: Raising capital out of property
Posted on 8 February 2008
Hi Katie, my husband and I have just recently moved back from the South of France, we have bought a property with no mortgage but we need to up date the kitchen, bathroom etc. Is it possible to get a small mortgage of about...
Category: Raising capital out of property
Posted on 21 January 2008
My husband and I would like to buy a property to renovate. We own a house worth £300,000 with a £25,000 mortgage on, its less than that now it was 25 when we took it out 3 years ago. Between us we take home about £32,000 a year....
Category: Raising capital out of property
Posted on 17 January 2008
My partner purchased a house 3 1/2 years ago for £180,000. He had a mortgage of £90,000 and the remainder of the money was invested by a friend. We have 18 months left before we have to "give back" the investment money to the...
Category: Raising capital out of property, Shared ownership
Posted on 26 September 2007
Will it be possible for me to buy out my husband? I am 53 and work as a nurse. How do people decide the price that you have to pay to buy out.
Category: Raising capital out of property, Separation or Divorce
Posted on 26 September 2007
My wife and me are currently building a second home which we intend to let out to her parents. My wife is 51 and I am 57, both intend retiring at 65. Our current property mortgage finishes in March 2008 and the property is worth...
Category: New build, Raising capital out of property
Posted on 24 September 2007
I have 240K equity in my flat which I want to release to buy a second property that I will live in. I would rent the current property out. My property has been valued at £300-£320.00K. The current mortgage is £60K The rental...
Category: Buy-to-let, Raising capital out of property, Tax issues
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
- 100%+ borrowing (6)
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- Buy-to-let (52)
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- Secured loans (9)
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- Self-certification (10)
- Separation or Divorce (21)
- Shared ownership (10)
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- State benefits (2)
- Tax issues (12)
- Temporary employment (2)
- The application process explained (11)
- Trusts (1)
- Unsecured loans (3)
- Valuations, Freehold, leases & unusual property (14)
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