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 21 January 2010
Hi, we have a UK mortgage of £180000 on a house value of £320000, combined income of £65000 and have other outgoings - car loans etc £400 month and credit cards totalling £15000. How much more could we realistically borrow on...
Category: Holiday homes, Remortgaging, Second properties
Posted on 31 August 2009
Hi we have a house worth £380k and mortgage left to pay of £195k. We would like to buy a holiday cottage to let in Ireland for £130k do you think we will be able to get a mortage based on the equity in our house? And if so what...
Category: Buying abroad, Raising capital out of property, Remortgaging, Second properties
Posted on 30 August 2009
I have a BTL mortgage of £140k on property bought for £177,000 now valued at £200,000. Currently on a base rate tracker of 0.7% rising to 0.9% next year, rental income is £9600pa. I also have a residential morgage of £120,000 on...
Category: Buy-to-let, Remortgaging
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 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 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 5 May 2009
I live with my partner but the mortgage, bills etc. are all in his sole name. I am on the electoral roll. He has a good credit rating whereas mine is bad. I am thinking of entering into a debt management programme with CCCS but...
Category: Bad credit, Remortgaging
Posted on 17 April 2009
I gained permission to let my flat 2 years ago by my lender for 1 year. Although they have since not contacted me to discuss where I stand on this. I came off my fixed rate in July2008 of 5.05%, but have subsequently benefited...
Category: Buy-to-let, Remortgaging
Posted on 9 April 2009
I am a British citizen who recently moved to the USA after getting married. Mortgage on my main UK residence is due to expire in September. I am not working at the moment but my husband is and can afford maintaining the two of...
Category: Buy-to-let, Remortgaging
Posted on 3 April 2009
I have equity of 130000 in a property valued at 150000. I want to buy a second property to retire to in 3 years when I will be 60. In the meantime I would like to rent out this second property.
I have an income of £48000 and...
Category: Buy-to-let, Interest only vs repayment, Legal matters, Remortgaging, Tax issues
Posted on 14 March 2009
Having left the UK to live and work in Canada in 2006, the mortgage on our old UK main residence in the UK is due for renewal later this year. the house has been succesfully rented since we left, but we are unsure if we can...
Category: Buy-to-let, Ex-pats mortgaging in the UK, Remortgaging
Posted on 12 March 2009
I HAVE A MORTGAGE FREE PROPERTY WORTH(340000) AND WANT TO RELEASE MONEY AGAINST IT(10000)TO BUY ANOTHERPROPERTY.N.ROC SAY YES BUT NO TO LET IT OUT, I WANT TO DO THIS. IS THERE ANY COMPANY THAT WILL ALLOW THIS?
Many lenders...
Category: Buy-to-let, Raising capital out of property, Remortgaging, Tax issues
Posted on 11 February 2009
My husband and I are in our 4th year of an IVA and our fixed rate mortgage ended in January so we are now on the variable rate. We bought the house in 2001 for £43,000 but have a secured loan of £36,000 when we had the house...
Category: Bad credit, Consolidation of debts, Remortgaging, Secured loans
Posted on 6 February 2009
I have a property worth 140-150k.
I wish to buy a second property which needs renovated for 140k let to buy seems the right way but how do i raise the capital for self cert deposit now as i think the property will sell...
Category: Let-to-buy, Raising capital out of property, Remortgaging, Self-certification
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
- 100%+ borrowing (6)
- Bad credit (26)
- Bridging loans (4)
- Buy-to-let (52)
- Buying abroad (21)
- 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 (6)
- Holiday homes (3)
- Interest only vs repayment (13)
- Legal matters (6)
- Let-to-buy (11)
- Life assurance/ protection (1)
- Lower mortgage payments (42)
- Mortgages in retirement (20)
- New build (4)
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- Overpayments, Payment Holdays, underpayments, Borrowback (13)
- Raising capital out of property (15)
- Remortgaging (66)
- Second properties (20)
- Secured loans (9)
- Self-build (8)
- Self-certification (10)
- Separation or Divorce (21)
- Shared ownership (10)
- Special circumstances (38)
- State benefits (2)
- Tax issues (12)
- Temporary employment (2)
- The application process explained (11)
- Trusts (1)
- Unsecured loans (3)
- Valuations, Freehold, leases & unusual property (14)
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