More mortgage questions are answered.

Mortgages are still hard to come by and may well be for the foreseeable future.

It is therefore worth anyone who is looking for a mortgage or re-mortgage doing a bit of research first.

An expert, Ronan Marrion, gives his assessment with answers to some questions he has been asked in the recent past. One or more of these, plus the others he has answered may be of interest to you.

How do we get the best mortgage rates / What is the lowest interest rate available for mortgages? …. (economicvoice.com/forums/showthread.php/1571-What-are-the-best-mortgage-rates-currently)

I would like to borrow some money, what is the best way for me to do this? Should I consider re-mortgaging? …. (economicvoice.com/forums/showthread.php/1570-What-s-the-most-appropriate-way-to-borrow-more-money)

I know some people who have got bank accounts which offset the interest on their mortgage. Are these a good idea for everyone? …. (economicvoice.com/forums/showthread.php/1569-Is-an-Offset-Mortgage-right-for-me)

My mortgage deal is about to come to an end, should I get a fixed rate, a tracker or neither? …. (economicvoice.com/forums/showthread.php/1567-My-Mortgage-is-up-for-renewal-What-option-should-I-now-choose)

I currently have a mortgage balance of approximately £2.32million on my house which is worth around £5million easily. This whole balance is on an offset tracker mortgage which is currently 3.5%. I like having the flexibility the offset facility offers me; however, I do feel a little on edge about the fact the whole mortgage is on a tracker rate because I'm concerned interest rates will rise next year. Is there anyone that offers offset fixed rates at all? …. (economicvoice.com/forums/showthread.php/1347-Mortgage-in-excess-of-%C2%A32mil-query)

My wife and I are looking to purchase a new home. We are the sole owners of our Limited Company which has substantial turnover and profit levels. We only take a standard salary and dividend out of the firm's profit because we don't need a higher income. We've approached four high street banks who have all told us that they can't consider the company profits when assessing our income and can only use the amount we have taken in the form of salary and dividends. We need to borrow £1.45million and although this look likes quite a stretch on our personal income it's actually less than twice the amount of our company's annual profits. Are there any lenders who will take a flexible approach to understanding the income of business owners? …. (economicvoice.com/forums/showthread.php/1353-Why-dont-lenders-understand-the-incomes-of-Company-Directors)

The above questions are an example of the real queries that he is asked every day. Questions to which he has answers. There are many more (economicvoice.com/forums/forumdisplay.php/38-Business-and-Finance-General).

If you do have a specific question please register in the forums and ask it.

RonanMarrion is a Mortgage Consultant with Worldwide Financial Planning Ltd who are authorised and regulated by the Financial Services Authority. ‘The FSA does not regulate Credit Cards, Will Writing and some forms of mortgage and Inheritance Tax Planning.’

Information given is for general guidance only, and specific advice should be taken before acting on any suggestions made.
All information is based on our understanding of current tax practices, which are subject to change.
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