How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Jo C. Your Own Question

Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 30929
Experience:  Over 5 years in practice
12826847
Type Your Law Question Here...
Jo C. is online now

Dear Sir/Madam, I have an interest only mortgage with the One

Customer Question

Dear Sir/Madam, I have an interest only mortgage with the One Account of £105.000.00 the facility for which will be withdrawn on 19/5/13. My job came to and end in November 2012 so I am unable to renew or make any other mortgage arrangements. I am female, 63 years of age.
My house is worth (valued 2 weeks ago) between £275 - 300 K. I also have a flat with an equity of approx 35K. Both properties are already on the market but no offers yet.
On top of this - I am finalising a private pension arrangement whereby I can take 16.5K (tax free lump sum) with which I would reduce my mortgage balance to 88.5K. On the application, I am asked if I have any creditor action pending against me. The answer to that is not yet, but yes, as of 19/5. DO I NEED TO DECLARE THIS NOW?
I also want to know if there is an Equity Release interest only mortgage up to 88.5K - currently I understand that the most a lender would be willing to give for people 63 years of age (myself) would be £77K.
Can you tell me what else I could do or what you would advise I should do urgently in my situation? I would be most grateful Regards XXXXX XXXXX
Submitted: 3 years ago.
Category: Law
Expert:  Stuart J replied 3 years ago.
Can you tell me what is your specific question?
Customer: replied 3 years ago.

Dear Sir


The most urgent question at the moment is:


 


Do I need to declare on my private pension application that there will be a creditor action against me as of 19/5 if I have not made any headway with my situation?


 


 

Expert:  Stuart J replied 3 years ago.
Have you been advised of pending action or are you anticipating?

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Jo C.

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
< Last | Next >
  • http://ww2.justanswer.com/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
  • http://ww2.justanswer.com/uploads/BE/benjones/2015-12-1_0437_ennew.64x64.jpg Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    11553
    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • http://ww2.justanswer.com/uploads/BU/Buachaill/2012-5-25_211156_barrister5.64x64.jpg Buachaill's Avatar

    Buachaill

    Barrister

    Satisfied Customers:

    1754
    Barrister 17 years experience
  • http://ww2.justanswer.com/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Advocate

    Satisfied Customers:

    894
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.com/uploads/UK/UKLawyer/2012-4-12_9849_F2.64x64.jpg UK_Lawyer's Avatar

    UK_Lawyer

    Solicitor

    Satisfied Customers:

    750
    I am a qualified solicitor and an expert in UK law.
  • http://ww2.justanswer.com/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    402
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • http://ww2.justanswer.com/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    8199
    LL.B (Hons), Higher Prof. Dip. Law & Practice