BBC NEWS | Programmes | Working Lunch | Your mortgage questions answered

David Hollingworth from London and Country Mortgages tackles your mortgage queries.

Gareth Lewis-Jones from Wales writes: "Our endowment company's told us there'll be a shortfall of nearly £8,000 on our £26,600 mortgage and we need to double our monthly payment.

"They admit the fund's been underperforming for years, so we're annoyed they didn't tell us sooner.

"They say an extra £40 is 'not a lot of money' but it is to us! Can we make a complaint?"

Yes, endowment shortfalls are a hot topic at the moment and these shortfalls are hitting millions of people.

If he wants to complain he should first call the person who sold him the endowment.

If he's still not satisfied he could go to the Ombudsman.

What he has to understand is that a shortfall doesn't necessarily mean misselling however.

Richard has been self-employed for 18 months, making a salary, dividends and profit and before that, had a six figure income.

But he can't get a decent mortgage offer.

There are too many restrictions, like needing three years of accounts.

Are there any lenders who'll look at the whole picture?

Most lenders do want three years worth of accounts usually but there are now some more flexible attitudes around.

The best advice is to shop around.

Some lenders will do a deal with as little as 12 months worth of accounts.

Or he could go for a self-certification mortgage where the borrower is asked to give an extra level of guarantee on his earnings estimate.

A whole host of lenders now do these mortgages.

Pete from Cambridgshire writes: "I'm in the Armed Forces and want to 'let' my house for 36 months while I'm working overseas.

"I've just remortgaged though and am worried the terms may prevent me from doing this.

"Shouldn't there be scope for flexibility?"

He needs to go back to the lender and explain the situation, because some deals will have terms that don't allow this.

Some lenders will be flexible because he's in the Services - if not he may have to look for another lender.

Richard Bell from Suffolk asks: "Why don't lenders advertise the fees involved when promoting the advantages of remortgaging?

"Shouldn't it be compulsory for them to state that fees are payable upfront and that moving is only cost effective on large mortgages?"

It's a good point; you might see a good headline rate advertised but there could be a whole host of fees to consider - arrangement fees, legal costs, brokers' fees, etc.

But the good news is that a lot of lenders are doing away with these extra costs which is good because it's bringing costs down, so again, shop around.

Ross Nickson, from Aberdeenshire, asks: "I've been working on a series of short term contracts and am currently out of work.

"I'd like to use this 'spare' time while I look for another job to buy a house and do it up.

"I have a 15-20% deposit to put down on a house but am finding it impossible to get a mortgage. Is there anywhere that will help?"

Lenders need to know you can service the mortgage they're going to give you.

He could get someone to guarantee the mortgage and then when he's back in employment he can get back into the mortgage in his own right.

Lenders are more comfortable with a family member as a guarantor.

It means that if the lender can't pay up the guarantor would be liable for the repayments.

Antony Wood, from Harrogate is four years into a £60,000 mortgage using an Isa to pay it off at the end of the term.

Is this a good way to pay off the mortgage or will Isas end up the same way as endowments have?

Isa mortgages are interest-only mortgages backed by an Isa.

They are risky - it obviously depends on the performance of the stock market, as with endowments.

The other thing is that with an Isa you're not told by the lenders how your Isa is doing; you have to check it yourself.

Mike Letton from Somerset writes: "I've read that there may be a regulated equity release mortgage scheme soon.

"Is there any update on this and do you think it's a good idea?"

If there's an investment involved that could be regulated by the FSA.

The lender will be subscribing to the mortgage code.

What he wants to do is look for members of SHIP (Safe Home Income Plans) who guarantee there'll be no negative equity, thus knocking down on the risks on equity release.

Jonathan Symms asks: "Why do we have to pay mortgage indemnity guarantee premiums?

"Ours is nearly £3,000 on top of our £175,500 mortgage.

"As I understand it, they only insure the lender, not the borrower, which isn't fair and lenders that don't charge MIG don't have as good rates, so what can we do?"

Usually you only you get charged MIG if you're borrowing over 90% of the loan - you can avoid it and it's a good idea to as it can be expensive.

It is not there to protect you; it's there to protect the lender but you have to pay for it!

Margaret Preston in Yorkshire asks: "Having redeemed a mortgage within recent years, is there any way I can check to see that the final figure charged by the lender was accurate?"

There are companies who will do this for a fee; 99% of the time the lenders will be right but just look back at your statements to check up.

Mike Johnson writes: " I'm 55 years old. Can I get a 25 year mortgage?"

It's certainly possible; some lenders will ask how he's going to pay after retirement but some will do it interest-only.

The opinions expressed are David's, not the programme's. The answers are not intended to be definitive and should be used for guidance only. Always seek professional advice for your own particular situation. [an error occurred while processing this directive]