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  • FIRST POST
    • Dandytf
    • By Dandytf 16th Jun 17, 8:50 PM
    • 633Posts
    • 285Thanks
    Dandytf
    ltv increased since 2009
    • #1
    • 16th Jun 17, 8:50 PM
    ltv increased since 2009 16th Jun 17 at 8:50 PM
    having swapped at end 5yr fix to 2yr fix
    ive since been advised my home is valued@52k

    i purchased at 65k 2009
    mtg was 85% ltv 15% deposit

    using natwide hpi calculator I thought this year i was 62.5 ltv approx
    new natwide valuation rules advise the re avaluation is 52k approx

    what i dont understand is how can the purchase price change this year increasing ltv to 90%
    sc dmp 2012 13k

    Jan 2017 7380 paid. 50% ish...
Page 1
    • Edi81
    • By Edi81 16th Jun 17, 9:34 PM
    • 228 Posts
    • 117 Thanks
    Edi81
    • #2
    • 16th Jun 17, 9:34 PM
    • #2
    • 16th Jun 17, 9:34 PM
    Where in the uk are you? Northern Ireland?
    • Dandytf
    • By Dandytf 16th Jun 17, 9:47 PM
    • 633 Posts
    • 285 Thanks
    Dandytf
    • #3
    • 16th Jun 17, 9:47 PM
    • #3
    • 16th Jun 17, 9:47 PM
    Where in the uk are you? Northern Ireland?
    Originally posted by Edi81
    I dont understand the relvence of your question

    No offence intended thoughI'll answer Scotland

    feel free to explain further if required

    thanks
    sc dmp 2012 13k

    Jan 2017 7380 paid. 50% ish...
    • jayII
    • By jayII 16th Jun 17, 10:01 PM
    • 39,880 Posts
    • 106,283 Thanks
    jayII
    • #4
    • 16th Jun 17, 10:01 PM
    • #4
    • 16th Jun 17, 10:01 PM
    House and flat values can go down as well as up. New build flats in some areas (outside London) frequently seem to lose value during the first few years. Thankfully you're not in negative equity!

    Hopefully the value of your home will start increasing now.

    I know the voices in my head aren't real, but sometimes their ideas are absolutely awesome!

    When you fall, I will be there to catch you - With love, the floor.




    • Dandytf
    • By Dandytf 16th Jun 17, 11:08 PM
    • 633 Posts
    • 285 Thanks
    Dandytf
    • #5
    • 16th Jun 17, 11:08 PM
    • #5
    • 16th Jun 17, 11:08 PM
    House and flat values can go down as well as up. New build flats in some areas (outside London) frequently seem to lose value during the first few years. Thankfully you're not in negative equity!

    Hopefully the value of your home will start increasing now.
    Originally posted by jayII
    65k to 52k

    I,m certain prices are decreasing at an alarming rate or am i exagturating needlesly

    thanks anyway- think moving next year maybe a cut my losses type decision
    sc dmp 2012 13k

    Jan 2017 7380 paid. 50% ish...
    • getmore4less
    • By getmore4less 17th Jun 17, 8:32 AM
    • 28,798 Posts
    • 17,219 Thanks
    getmore4less
    • #6
    • 17th Jun 17, 8:32 AM
    • #6
    • 17th Jun 17, 8:32 AM
    having swapped at end 5yr fix to 2yr fix
    ive since been advised my home is valued@52k

    i purchased at 65k 2009
    mtg was 85% ltv 15% deposit

    using natwide hpi calculator I thought this year i was 62.5 ltv approx
    new natwide valuation rules advise the re avaluation is 52k approx

    what i dont understand is how can the purchase price change this year increasing ltv to 90%
    Originally posted by Dandytf
    It is not the purchase price that has change but the valuation.

    It is LTValue not LTPurchace
    • Dandytf
    • By Dandytf 17th Jun 17, 8:59 AM
    • 633 Posts
    • 285 Thanks
    Dandytf
    • #7
    • 17th Jun 17, 8:59 AM
    • #7
    • 17th Jun 17, 8:59 AM
    It is not the purchase price that has change but the valuation.

    It is LTValue not LTPurchace
    Originally posted by getmore4less
    I agree which is why I asked.

    To be fair I didnt make myself clear my mrg swap paperwork arrived last week stating purchase price 52k wheras i have 2009 mtg paperwork stating purchase price 65k total amount borrowed 56k (after 15% deposit)
    sc dmp 2012 13k

    Jan 2017 7380 paid. 50% ish...
    • Thrugelmir
    • By Thrugelmir 17th Jun 17, 10:39 AM
    • 53,810 Posts
    • 46,605 Thanks
    Thrugelmir
    • #8
    • 17th Jun 17, 10:39 AM
    • #8
    • 17th Jun 17, 10:39 AM

    To be fair I didnt make myself clear my mrg swap paperwork arrived last week stating purchase price 52k wheras i have 2009 mtg paperwork stating purchase price 65k total amount borrowed 56k (after 15% deposit)
    Originally posted by Dandytf
    Mortgage valuations are done on the basis of purchase price or market valuation, which ever is the lower.
    “ “Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.” Sir John Marks Templeton
    • Dandytf
    • By Dandytf 17th Jun 17, 10:50 AM
    • 633 Posts
    • 285 Thanks
    Dandytf
    • #9
    • 17th Jun 17, 10:50 AM
    • #9
    • 17th Jun 17, 10:50 AM
    Mortgage valuations are done on the basis of purchase price or market valuation, which ever is the lower.
    Originally posted by Thrugelmir
    Excellent answer

    Thanks all msers for reliable accurate kind advice.
    sc dmp 2012 13k

    Jan 2017 7380 paid. 50% ish...
    • FutureDreams
    • By FutureDreams 17th Jun 17, 12:04 PM
    • 21 Posts
    • 94 Thanks
    FutureDreams
    I recently had a property valued and the report gave a valuation of £60,000 less than we expected. When I queried it the valuer had matched it against a repossessed property sold at auction. Sometimes they get it wrong.
    • Dandytf
    • By Dandytf 17th Jun 17, 4:09 PM
    • 633 Posts
    • 285 Thanks
    Dandytf
    I recently had a property valued and the report gave a valuation of £60,000 less than we expected. When I queried it the valuer had matched it against a repossessed property sold at auction. Sometimes they get it wrong.
    Originally posted by FutureDreams
    Inetersting though what i havent yet mentioned is 50-55 k was average valuation from 3 local agents over winter when i wasnt certain of work at the time.

    thanks all my concern has been answered.
    sc dmp 2012 13k

    Jan 2017 7380 paid. 50% ish...
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