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 10 August 2009
are there longer term mortgages ie. 35 - 45 years.
please quote for ist time buyer mortgage and remortgage.
Debra,
Some lenders will lend for as long as this, providing you are young enough for the mortgage term not to go...
Category: Special circumstances
Posted on 14 April 2009
You successfully arranged a mortgage for myself (a british national) and my partner (an Australian national) - this was 18 months ago. We are seeking to buy a second property in another area. Are there any providers who will...
Category: Second properties, Special circumstances
Posted on 13 February 2009
I am having difficulty with Experian and my credit report. Despite having no loans or debt and savings my credit report comes's up with poor. i am trying to purchase a £225,000 house and have 40% to put down. Can I get a mortgage...
Category: Bad credit, Special circumstances
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
Posted on 11 February 2009
MY PARTNER HAS BEEN DIVORCED JUST OVER A YR BUT STILL HAS A JOINT MORTGAGE AND DEEDS TO A HOUSE HIS EX STILL LIVES IN. WE ARE SET TO MARRY SOON WILL THIS POTENTIALLY AFFECT ME OR WOULD I BE ENTITLED TO ANY OF THE HOUSE. IF WE HAD...
Category: Legal matters, Separation or Divorce, Special circumstances
Posted on 7 February 2009
Hi,
I live with my mum who is retired and had my name added to her endowment mortgage, because I couldn't afford to buy a house by myself (I earn £20,000).
Over the years I have built savings of £10,000+ and would like to...
Category: Second properties, Special circumstances
Posted on 6 February 2009
Hi
My wife has enduring power of atourney for her mum. Her mum has been moved from her property to a sheltered home as she is suffering alzhimers. Now, the property is a commercial dwelling with a shop and above flat. It has a...
Category: Buy-to-let, Commercial, Remortgaging, Special circumstances
Posted on 4 February 2009
i have a joint morgage with someone, they left the property in sep 2008 and i have paid the morgage since, the morgage company wont let me have the morgage in my name only because on paper i dont earn enough even though i have...
Category: Separation or Divorce, Special circumstances
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 5 March 2008
Hi Katie, I am moving house. My partner and I have an interest only mortgage of £161,000 and pay £550 per month into an ISA. We think we will increase our mortgage to around £210,000. How much should we increase our ISA payment...
Category: Special circumstances
Posted on 9 February 2008
My friend and I would like to take out a joint mortgage but we have unequal sums for the initial deposit. Is there a common formula used for working out the proportion of profit each is entitled to on sale of the property based...
Category: Special circumstances
Posted on 30 January 2008
I want a repayment mortgage of 46k over 6 years. I am looking at a daily calculated interest mortgage and an annually calculated one. Is there a way to calculate how much more the annual version will be over the 6 years, given...
Category: Special circumstances
Posted on 7 January 2008
Dear Katie, we own a bungalow valued between £350,000 - £400,000, with a mortgage of £190,000. We wish to borrow another £50,000 to complete renovations and for me to take time out to have a baby without worrying about mortgage...
Category: Special circumstances
Posted on 6 January 2008
I have a tracker mortgage at present, so during the recent years the payments have increased. I've just been told that due to the latest interest rate drop my payments have dropped to £808 pm. When the rates were last at 5.5%, my...
Category: Lower mortgage payments, 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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