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 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 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 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 24 September 2007
I have 240K equity in my flat which I want to release to buy a second property that I will live in. I would rent the current property out. My property has been valued at £300-£320.00K. The current mortgage is £60K The rental...
Category: Buy-to-let, Raising capital out of property, Tax issues
Posted on 7 September 2007
I live with my parents in a large house which has no mortgage. Is it possible to take out a mortgage so we can do some renovations? I will inherit 1/3rd of the house upon my parents death.
Category: Equity release, Remortgaging, Tax issues, Unsecured loans
Posted on 4 September 2007
I am about to embark as a trainee solicitor with a law firm. My salary in the first few years will be low. Currently I earn £30,000. I would like to borrow c. £175,000 and I have a deposit of about £15,000. My parents might be...
Category: First-time buyer, Lower mortgage payments, Special circumstances, Tax issues
Posted on 4 September 2007
Dear Katie...My daughter and her partner, ages 35 and 37 respectively, own an immaculate end-of-terrace home in a slow-moving area but are anxious that their aspirations seem to be sliding fast away. They wish to invest in a...
Category: Lower mortgage payments, New build, Tax issues, Valuations, Freehold, leases & unusual property
Posted on 1 September 2007
I am thinking of getting a buy-to-let mortgage and partly occupying the property myself at
Category: Buy-to-let, Tax issues
Posted on 29 August 2007
My daughter is a nurse, 27, single and working in London. Annual income I believe to be £25,000, no significant loans or credit card debts. Are there any mortgage options available to her for a £180,000 flat which she has found?
Category: First-time buyer, Lower mortgage payments, Shared ownership, Special circumstances, Tax issues
Posted on 20 August 2007
We are buying a second property that we wish to extend and then move into. The money for this purchase is secured on our current property which we have virtually no mortgage on and we do not wish to sell until after the...
Category: Remortgaging, Second properties, Tax issues
Posted on 15 August 2007
We currently own our family property with no mortage in the UK and intend to purchase another property in the UK with a mortgage which will be used as a hoilday home. Can you tell us whether this would come under a buy-to-let...
Category: Buy-to-let, Holiday homes, Mortgages in retirement, Tax issues
Posted on 19 July 2007
I have a mortgage on my current home that is in my name alone. I would like to add my partner onto the mortgage, as he has been contributing to it for many years. I asked Halifax, my current lender, how to do this - they said I...
Category: Tax issues
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
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