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.
07/05/2013
We have a property valued at £850k with a £425k mortgage. The current rental value of our property is circa £3750pm. How would we go about letting out our property whilst releasing capital in the property to buy a new home?. Or...
Categories: Buy-to-let, Home mover, Let-to-buy, Capital Raising
29/04/2013
My husband is 56 and I'm 55 years old , we would like to sell and buy a new home of similar value which is around 160.000 mark. We owe 70.000 on the mortgage and we have 25.000 in bank loans and credit cards, we have a joint...
Categories: Home mover, Mortgages in retirement
15/04/2013
2 years ago I viewed a house for sale at £220,000. Loved it. couldn't buy it. Now it's on the market for £129,000 with water damage and not mortgageable....suggestions for funding to buy it then do it up? Have not got cash...
Categories: Home mover, Bridging loans, Capital Raising
13/04/2013
I have a mortgage of £72,000 and my property has been valued at £95,000. I would like to buy-to-let this property and buy another property which is £180,000. Would this be possible to achieve? We have a total annual income of...
Categories: Let-to-buy, Home mover
12/04/2013
Let to buy. Hi, we currently own a BTL property worth £120k with an o/s mortgage balance of £68k. We live in a house worth £300k & have an o/s mortgage of £38k. We have an income of £90k & have no other loans etc. we have see a...
Categories: Let-to-buy, Home mover, Capital Raising
09/04/2013
I have a property worth £180000 with a 49000 mortgage on it, I could clear the mortgage this August, I would like to let to buy and buy another property for £250000,I earn 39000. Would it be better to clear existing mortgage or...
Categories: Buy-to-let, Capital Raising, Let-to-buy, Home mover
03/04/2013
My wife and I have separated and we have a joint mortgage. I have moved out but she wants to keep in the house for the kids sake and is talking about moving her new man in. My problem is we both dont want to sell at the moment...
Categories: Home mover, Capital Raising, Remortgaging, Separation or Divorce
03/04/2013
My partner and I own a property outright, valued at approx £210,000. We would like to let this (using this money towards another purchase) and purchase another home for ourselves. Is there any way of using the value of our...
Categories: Buy-to-let, Let-to-buy, Home mover, Capital Raising
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
26/03/2013
I own my property with no mortgage and looking to buy another property to move into. Can I raise a mortgage on my existing home that will be paid by the rent I receive and raise a second mortgage against my new home based on my...
Categories: Buy-to-let, Let-to-buy, Home mover
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.