Ask an Expert – Page 2
Previous Questions
Are there any lenders that look at your overall equity on several properties as the LTV for your main home?
Q: I currently have a large mortgage of £320,000 on my main home ( value £400,000 ). I have a second property in the UK with no mortgage, which i bought with my parents and is held in trust for me ( value £120,000 ). I have 2 properties in bulgaria with no
A: I’m afraid the answer to your question is no. Unfortunately mortgage lenders will not take into a…
If my 100% mortgage scheme is coming to an end, should I use my savings to reduce my mortgage loan amount?
Q: We took out a 100% mortgage in April 2008 (just before the products were withdrawn from the market) and I belive the property value has retained its purchase price due to its location – which is around £378k. We have now moved from the fixed to tracker r
A: I think yours is a very interesting question, and there are a large number of people who are in a s…
Do any lenders accept vendor gifted deposits?
Q: Do any lenders accept vendor gifted deposits?
A: Yes some lenders will accept a vendor gifted deposit or other cash incentive provided this does not…
I plan to work past retirement, what are my chances of getting a mortgage?
Q: I am looking to sell my property and move to property close by . I will have £25,000 from my sale and would be looking for a mortgage around £200,000 on my yearly income of £56,000- £58,00 . I am 47 years of age and intend to work past retirement . What w
A: From the information you provided I certainly think it is possible for you to get a mortgage. If yo…
A business partner of mine lives and owns companies abroad, can he arrange a mortgage in the UK to purchase a property here?
Q: A Turkish business partner of mine wants to buy a house in the UK. Mr X, my business partner, has several companies in Turkey and elsewhere. Will he be able to get a mortgage in the UK? What proof of income etc will he need to give?”
A: To answer your question, it would be possible for your business partner to buy a rental property in…
I have a 10% deposit to put down but require a large mortgage, what are my chances?
Q: I have a 10% deposit to put down but require a large mortgage of £990,000.00. What are my chances of getting a mortgage?
A: In the current post credit crunch mortgage market, it is difficult to obtain a 90% loan-to-value mo…
My tracker mortgage finishes at the end of July, should I apply for a fixed rate or lifetime tracker?
Q: My tracker mortgage finishes at the end of July. Should we take a fixed higher rate mortgage over 2 or 3 years. Or a lifetime tracker at bank of England rate plus 1.99% at no early repayment fee and only £140 exit fee. No application fee. When rates go up
A: We need to fully understand your financial circumstances before we can advise. Generally speaking y…
I am a first time buyer and would like to find out how much I can borrow?
Q: I wonder if someone could advise me please? I am a first time buyer and have not yet selected a property that I would like to buy as I am keen to find out how much I would be accepted for on a 100% mortgage before I start to check the market. I have no de
A: Thank you very much for your question. A lot of people are looking to buy their first homes at the …
We are looking at buying a flat in Mumbai, India?
Q: Hi, We are looking at buying a flat in Mumbai, India.I am resident of UK and would like to explore the possibility of getting a mortgage in GBP, that being the currency of my primary income.I realise this is unconventional as most of the overseas mortgage
A: Unfortunately we are unable to assist and your idea makes a lot of sense. Try a global bank like HS…
Tax Implications?
Q: Hello, I’ve got an interesting question. I currently owe approx £100,000 on my mortgage of the flat I live in. But the wife and I are looking to move into a house in a different area and let out this flat. Now then, my mum has agreed to lend me £100,000 t
A: Thanks for your query. It’s a good question and difficult to know the best tax treatment. We woul…
What will uk mortgage rate be in 2010?
Q: What will uk mortgage rate be in 2010? There are so many factors to consider. Would you be kind enough as to give me some pointers as what to look for or avoid? A little advice would go a long way right now. I am very grateful for your help.
A: This is a good question. It’s impossible even for us to predict what mortgage rates will be next …
