Ray of Light
About Ray
Ray Boulger is widely renowned as the guru of the mortgage industry and expert on the housing market. Ray is constantly called upon by the media to provide informed comment on all areas of the market, and is a regular on the BBC, Sky and ITV.
Last year, Ray was voted guru of the year at the Headlinemoney awards by all of the nation’s money and property journalists. As such, we thought it was high time that you had direct access to him. Ray’s blog will be updated most days so the knowledge just keeps on coming.
Here, Ray offers advice to all borrowers about a range of situations
Please be aware that these answers can only be generic and no personal recommendations can be made.
Posted on 22 June 2009
My wife and I have gone our own way but she has left and won’t pay half towards to joint mortgage! She also won't agree to let me sell it either! Where do I stand? If I can’t make the payments will they track her down for the...
Posted on 22 June 2009
My partner and I are first time buyers and are wishing to secure a mortgage in the near future. We are, at present, in a position to put down a deposit of at least 20%. I work for West Sussex County Council who's policy is to...
Posted on 21 June 2009
I work full-time but my income is only £12,400 a year. Will it be hard for me to get a mortgage? I do get help from tax credits and housing benefit, I was wondering if I can add those figures to my income when applying for...
Posted on 17 June 2009
Are there any mortgage lenders out there that will take into account salary, child maintenance and tax credits when calculating how much they will lend?
Category: State benefits, Tax issues
Posted on 16 June 2009
Can I use my entire pension or part of it to cover the deposit for a social homebuy?
Posted on 16 June 2009
Can you please provide a number when calling you from overseas. Using the 0845 numbers costs 3GBP per min. Regards.
Posted on 15 June 2009
I am getting a medical procedure done (which my insurance will not cover. Can I draw down my pension for this? I live in Detroit,MI.
Posted on 11 June 2009
Hi,
I am looking at investing in a second home. I currently have a mortgage of 83k on a property worth 115, but am looking to buy a second house to renovate and sell on. I am looking at a maximum of £50 on the second property....
Category: Bridging loans, Remortgaging
Posted on 11 June 2009
I'm currently an expat facing retirement next spring, and want to obtain a mortgage on a UK property to live in. Can you advise how this can be accomplished, ie. can your company help.
Category: Ex-pats mortgaging in the UK
Posted on 9 June 2009
Hi,
My partner and myself currently own a property bought for £84,000 plus £9,000 loan to cover furnishing and decorating costs. We would like to move to a bigger home in the next year or two but would like to also rent out...
Posted on 8 June 2009
I own outright a house valued at 350,000 and I currently have a 2nd home value at £125,000 with an outstanding mortgage of £50,000. I would like to purchase another home as a 3rd home valued at £175,000. I have a cash deposit...
Category: Buy-to-let, Remortgaging, Second properties
Posted on 7 June 2009
I ran up a few credit cards whilst at university which resulted in a default around 3 years ago. I have yet to pay them off in full but am paying them each month. My wife and i earn a joint salary of £40,000 and want to buy our...
Category: Bad credit
Posted on 5 June 2009
I am coming to the end of a fixed rate buy to let mortgage with Chelsea BS at 4.99% they are no longer offering BTL mortgages and their SVR is 5.79% I need to re-mortgage without it costing me more, where can I get the best deal...
Category: Buy-to-let, Remortgaging
Posted on 2 June 2009
I owe £116,815 on my interest only mortgage, I am making a capital payment in December so the balance will be 108k, getting my ltv at 60% borrowing. The mortgage is libor plus 1.5% and I'm only paying 2.77% at the moment. I don't...
Category: Fixed or Variable?, Remortgaging
Posted on 2 June 2009
Our fixed term has ended and we have an interest only mortgage. I want to change to a repayment mortgage now that the interest rates are low. I am earning £13,500 plus Working Tax Credits of approx £30 a week and my partner...
Answers provided in response to Ray of Light 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 neither John Charcol Limited nor Ray will accept liability for them.
We recommend you seek professional advice with regard to any of these topics where appropriate.
Categories
- 100%+ borrowing (6)
- Bad credit (26)
- Bridging loans (4)
- Buy-to-let (49)
- Buying abroad (20)
- Commercial (5)
- Consolidation of debts (10)
- Council houses (4)
- Current rates & the market (15)
- Endowments (2)
- Equity release (4)
- Ex-pats mortgaging in the UK (5)
- First-time buyer (28)
- Fixed or Variable? (12)
- Foreign Currency or foreign tracking rate mortgages (6)
- Guaranteed" home-buy schemes (1)
- Guaranteeing & buying with child (5)
- Holiday homes (2)
- Interest only vs repayment (13)
- Legal matters (5)
- Let-to-buy (11)
- Life assurance/ protection (1)
- Lower mortgage payments (42)
- Mortgages in retirement (20)
- New build (4)
- Offset mortgages (9)
- Overpayments, Payment Holdays, underpayments, Borrowback (13)
- Raising capital out of property (14)
- Remortgaging (63)
- Second properties (18)
- Secured loans (9)
- Self-build (8)
- Self-certification (9)
- Separation or Divorce (20)
- Shared ownership (10)
- Special circumstances (37)
- State benefits (2)
- Tax issues (12)
- Temporary employment (2)
- The application process explained (10)
- Trusts (1)
- Unsecured loans (3)
- Valuations, Freehold, leases & unusual property (14)
Archive
- June 2009 (16)
- May 2009 (6)
- April 2009 (6)
- March 2009 (4)
- February 2009 (19)
- January 2009 (3)
- October 2008 (14)
- September 2008 (10)
- August 2008 (12)
- July 2008 (6)
- May 2008 (21)
- April 2008 (13)
- March 2008 (39)
- February 2008 (33)
- January 2008 (35)
- December 2007 (17)
- November 2007 (9)
- October 2007 (49)
- September 2007 (35)
- August 2007 (37)
- July 2007 (28)