Loan to Value estimates?

Grolsch30

Hi,

My tracker deal with Nationwide ends in July unfortunately (currently paying 0.38% interest on my repayment mortgage).

I am now on the look out for a decent 10 year fix.

Now two years ago my house was valued by Nationwide @ around £180000 via there pc system!
My mortgage is for £96000.

Now with the crunch and house prices goind down my house value will of most likely have decreased.

If I call Natiowide I am sure they will be able to give a new house valuation and give me what LTV I have in regards to getting a new mortgage.

But...

If I find another better deal/ rate from another company where you need a certain LTV amount to be elegible and according the Nationwide it is 40% or 60%...
How do I know if I can apply for the better deal at the other mortgage company as they might think differently in regards to my LTV/ house valuation?

theartfullodger

Are you saying the tracker deal/mortgage as a whole ends July or is it just the low 0.38% tracker ending in July & the Mortgage then continuing at the ruling variable rate ??

Cheers!

Lodger

Grolsch30

theartfullodger wrote: »

Are you saying the tracker deal/mortgage as a whole ends July or is it just the low 0.38% tracker ending in July & the Mortgage then continuing at the ruling variable rate ??

Cheers!

Lodger

Hi Lodger,

Just my low .38 % tracker deal ends in July, which means unless I get a new deal (preferably a great 10 year fix deal), I would go onto Nationwides SVR.

theartfullodger

In that case you should not need a new valuation - just move onto the SVR, whatever that is, regardless of your current LTV (even if negative equity).

So, compare with agro & costs of getting a new deal from Nationwide or anyone else. Not as cheap for fees as it was!

Cheers!

Lodger