Ask the 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 team of experts, led by our in house mortgage technical manager, Simon Collins, who has spent the last 10 years helping our consultants to place mortgage applications.
So please do submit your question and we will do all we can to answer it as quickly as possible. Regrettably, we are unable to answer every question due to the popularity of this section.
Please note, John Charcol cannot provide legal or tax advice. If your enquiry contains a legal or taxation query we will refer you to our in house legal team, Rollingsons Solicitors Limited. By submitting your enquiry to us you are confirming that you consent to our passing your contact details to them.
Please be aware that these answers can only be generic and no personal recommendations can be made.
09/06/2013
I have a £200,000 existing int. only mortgage with 2yrs to run . I have to fund in addition £150,000 to private debtors. Property value is £750000. Income [index linked ] is £80,000pa. & twins 22yrs both in employmentlive here &...
Categories: Interest only vs repayment, Guarantors and buying with child, Capital Raising, Remortgaging, Mortgages in retirement
04/06/2013
I personally own a property in London and am responsible for the mortgage. I used to live in London, but I'm now back in South Africa and resident in SA. I want to "gift" the property to my son, currently working and living in...
Categories: Remortgaging, Legal matters, Guarantors and buying with child
02/04/2013
My parents would like to purchase a house for £300,000, but will only have £200,00 to fund this once they have sold their currrent house. Their four children would like to know, is it possible for us in conjunction with our...
Categories: Guarantors and buying with child, Home mover
27/03/2013
My stepson, who is aged 30, and has a secure job with a big consulting firm at a salary of £44,000, is renting at the moment but wants to buy. His girlfriend, with whom he has been for more than 5 years, will probably not own the...
Categories: First-time buyers, Guarantors and buying with child
19/03/2013
I have a mortgage which is in about £100k of negative equity, and my parents are guarantors for me. Is there any advice on how to remove them from the mortgage? If I was to sell the property can I negotiate with the banks on the...
Categories: Guarantors and buying with child
11/03/2013
I want to buy a house with my friend. Together we have £57,000 saved for a deposit. He does not work though and I am about to embark on a masters degree but have enough in savings (seperate to the money for a deposit) to pay the...
Categories: Guarantors and buying with child, First-time buyers
05/03/2013
Hi, I still live with my parents. My girlfriend and I wish to move out next year. My parents have kindly suggested that they will help us out. Can they release equity from their home to enable my girlfriend and I to use that...
Categories: First-time buyers, Guarantors and buying with child, Capital Raising, Remortgaging
02/03/2013
My husband and I would like to help our daughter get onto the housing ladder in an expensive part of the country with a min purchase price of around £200k. Her salary is £25k and she has around £15k saved for a deposit - what is...
Categories: First-time buyers, Guarantors and buying with child
24/01/2013
I own my own home and another property outright (rented out). I am thinking about buying a property for my daughter and her boyfriend to rent from me. But I would need a mortgage. I could afford a deposit of about 15% of the...
Categories: Buy-to-let, Home mover, Second properties, Capital Raising, Guarantors and buying with child, Remortgaging
13/01/2013
Where can my son get a mortgage to buy a share of our house. We would use that money to move into a smaller property and then just be on the deeds as joint owners with our son of the original property. The idea being to help our...
Categories: Remortgaging, Guarantors and buying with child
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 necessarily 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.