Lenders variable rate

curtis122

I have a buy to let mortgage as long as I have had it I have always had fixed rates. With rates being so low at present I am thinking of going onto a lenders variable rate (not with my current lender). When going onto someones variable rate does Loan to Value (LTV) still apply?

In other words can I just switch when my fixed rate is finished and go onto a variable rate with another lender regardless of how much my house is worth and what I need to borrow as mortgage?

Does that all make sense!!

feisty1

curtis122 wrote: »

I have a buy to let mortgage as long as I have had it I have always had fixed rates. With rates being so low at present I am thinking of going onto a lenders variable rate (not with my current lender). When going onto someones variable rate does Loan to Value (LTV) still apply?
In other words can I just switch when my fixed rate is finished and go onto a variable rate with another lender regardless of how much my house is worth and what I need to borrow as mortgage? !![/quote]

Does that all make sense!![/quote]
No, none at all, why would someone lend you money on the basis of "regardless how much my house is worth and what I need to borrow as mortgage"?

Trying_to_be_good

Few lenders are offering their SVRs as 'new products' to new borrowers, but your current mortgage may well revert to your lender's SVR?

If it does revert to your own lender's SVR, LTV won't apply as it's the same mortgage continuing. If you're applying for a new deal (with them or someone else) LTV limits will apply.