LTV/home value

secondtoughest

I bought a flat in April this year, FTB.

I'm currently overpaying my mortgage by a small amount in order to improve my LTV, it's a 3 year fix at 5.29% 85% LTV over 25 years.

My question is, when my fixed rate ends in April 2012 how does my lender work out my new LTV? Do they look at recent sales or is it generic market criteria?

Thanks for your help

secondtoughest

I searched, like a good MSE-er!

So as a rule of thumb my lender will use the Nationwide HPI calculator or similar?

dimbo61

You put down a 15% deposit and you are overpaying so keep up the good work and OP and build up your savings.
We dont know what the housing market will be like in 2 years so know point worrying

Let_Us_See

The lender has two options. Physical valuation or AVM (utilising last sale price, market trends and regional variations).