Britannia 90% LTV @ 4.99% No Fees

MorganW

mstopham wrote: »

Can I ask where you got this understanding from? Looking at FD tracker now but thinking the figures won't add up to get the 80% LTV.
Any input as to what people did/said to get upto 90% LTV with FD?

I applied for an interest only remortgage with 80% LTV a fortnight ago on the BOE+1.49%. At the time of application, FD said that if the survey devalues the property but the LTV is >80% but <90% then there is no issue proceeding with the mortgage but it will be on a repayment basis until the mortgage capital is below 80% LTV.

mstopham

MorganW wrote: »

I applied for an interest only remortgage with 80% LTV a fortnight ago on the BOE+1.49%. At the time of application, FD said that if the survey devalues the property but the LTV is >80% but <90% then there is no issue proceeding with the mortgage but it will be on a repayment basis until the mortgage capital is below 80% LTV.

Thanks for that. We are currently debating taking out a loan to bring the LTV down if the house is valued low but my BH is dead against this so anything we can arm ourselves with to avoid this is appreciated.

dlk

mstopham wrote: »

Can I ask where you got this understanding from? Looking at FD tracker now but thinking the figures won't add up to get the 80% LTV.
Any input as to what people did/said to get upto 90% LTV with FD?

They used to do 90% mortgages but these were withdrawn a few weeks ago. Any mortgage agreement in principles already offered though will still be honoured. Now 80% is the most they will do.

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Nevermind cheaper mortgages, in a market that has lost 18% since peak (Halifax, since Oct 07) and with a recession through 2009, the best advice to FTB's is stay away from the market all together, you are saving between £1200 and £3000 per month by not buying.

Just like the oil bubble has burst, so is the housing market. There were steady/manageable rises in house prices from '96 through to 2000, the market after this time was all speculation/bubble, with the inevitable undershoot, expect prices to go back all the way to 2000-2001, with no chance of seeing 2007 again for at least a decade.

Cheaper mortgages for FTB'rs ???, I wouldn't buy if mortgages were being given at 0%, reason, houses are still way overpriced, there is quite some way to go yet.