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 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 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 4 May 2008
Bit of a convoluted question but I hope you can help...! I am a first time buyer and I'm considering a shared ownership type arrangement with a family friend who is looking to invest in property. Would it be possible for us to...
Category: First-time buyer, Guaranteeing & buying with child, Shared ownership
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 17 January 2008
Hi Katie, I am a first time buyer (joint). I don't have much savings to put in a 10% deposit for a mortgage. I would like to go for an ownership sharing. What are the eligibility criteria for this? Our combined annual income is...
Category: Shared ownership
Posted on 19 October 2007
Hello, I bought a 25% (£80000) stake in a shared ownership property 5 years ago which was valued then at £320000. I'm remortgaging shortly as the 5 year fixed rate mortgage period is ending. I have a faultless payment record and...
Category: Shared ownership
Posted on 25 September 2007
My son is about to arrange a mortgage on a part buy/part let house from a local housing assoc.Are there some top specialist lenders or will all building societies be able to help?
Category: Shared ownership
Posted on 29 August 2007
My daughter is a nurse, 27, single and working in London. Annual income I believe to be £25,000, no significant loans or credit card debts. Are there any mortgage options available to her for a £180,000 flat which she has found?
Category: First-time buyer, Lower mortgage payments, Shared ownership, Special circumstances, Tax issues
Posted on 24 July 2007
I purchased a property under a shared owership homebuyers scheme in 1999 with myself having 40%. I now think i want to buy the other share from the housing association, as well as buy a property for a buy-to-let. My...
Category: Shared ownership
Posted on 20 July 2007
I have dealt with Charcol in the past but just have a question. I am one of a group of five friends looking to purchase a house together. Which is the best way to go about this with regard to arranging a mortgage? We all...
Category: Buy-to-let, Shared ownership
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.
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