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 spent his formative years as an underwriter with one of the major UK lenders and the last 10 years in our Technical Department along side Ray.
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 31/03/2010
I'm an expat and am planning my return to the UK. I want to self-build and thus need a mortgage to do so. I will permanenetly relocate when the house is completed and it'll be my main residence. Can I get a mortgage to do this?
Categories: Ex-pats mortgaging in the UK, Self-build
Posted on 02/05/2008
I would like to find comparison rates for mortgages to build a home - I can't seem to find any on your website?
Categories: Self-build
Posted on 05/03/2008
Hi Katie, I currently own a property worth £250,000 which I have planning permission to convert into 2 offices with a 2 bedroom flat and build a 3 bedroom house in the garden. I currently have a £150,000 mortgage balance on the property. My salary is £55,000-£60,000 a year. What are the financing options available to me on a project like this? Thanking you in advance.
Categories: Self-build
Posted on 15/10/2007
I own a house, that has previously been granted planning permission on the side/garden land for a two storey extension. This elapsed but I've now submitted plans again for 3 x 2 bed flats. I have £175,000 outstanding (residential)mortgage with 14 years left. assuming permission is granted, I have the land. what type of mortgage would be best for me to finance the build? I am with Northern Rock till next July, if they're still going. I was told before I could try to split the land off from the main house, as long as it was worth 25% more than was owed, to protect the lender. Can I get part residential, part build to let? (there may also be a possibility that I want to rent out both the new and existing property. Any advice for type of loan or lender would be gratefully received.
Categories: Self-build
Posted on 07/10/2007
I'm wanting to do property developing full time and have already completed 2 property's in the last 6 years in my spare time as a hobby but I'm wanting to do it full time now. I'm self employed and need to know what sort of mortgage i need to look for as i don't want to re-mortgage my marital home, only the property I'm buying.
Categories: Commercial, Self-build
Posted on 28/09/2007
I need to borrow £75k to complete on a property costing £720k and I require a further £45k facility to draw down on. The property was a vicarage built in c1870 and currently has D1 commercial offices use. After purchase I shall apply for planning permission to return it to residential use. It is NOT possible to apply for this permission prior to completing on the property.
I am astonished that with the LTV ratio I have that it is proving virtually impossible to obtain this finance. Can you help?
Thanks
James
Categories: Commercial, Self-build, Special circumstances
Posted on 20/08/2007
Hi, I owe around £260k on my mortgage but my property is a 7-bed with swimming pool, bar, cinema, etc. I built the house out of my saving and it has been valued at around £800-900K by a local estate agent. I now...
Categories: Buy-to-let, Buying abroad, Remortgaging, Second properties, Self-build, Valuations, Freehold, leases & unusual property
Posted on 10/08/2007
Hi, I'm building a house in Ireland and I need to get a mortgage. I'm renting here from a housing association - would I be able to get one?
Categories: Buying abroad, Self-build
Posted on 23/07/2007
I currently owe £50,000 on a property worth approx £210,000.I am considering building another property and would need to borrow approx £175,000 to do this if I don't sell my current property first. I intend to sell the...
Categories: Self-build
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. All comments are made in good faith, and John Charcol will not accept liability for them.
We recommend you seek professional advice with regard to any of these topics where appropriate.