LTV Question

Dan_1976

I think RICS helped, the FSA put no pressure on them to restrict anything. Its our fault for paying stupid prices based on low rates of interest.

How many people struggle going from 4-5% to 6-7%, if house prices and mortgages were more realistic that jump should have not have made so much difference. 5X income with no proof and a 10% deposit! Remember the days??

de1amo

the lenders have put the brakes on -the surveyors are another prong of attack on deflating the market-now the people who were sucked into the bubble will become the victims of them--the fsa will find no one within their ranks culpable because they let it all happen

JimmyTheWig

Kingsd316 wrote: »

This is true but some things that need doing are urgent so the property can be lived in, so it will def improve the value of the house

The lender still can't guarantee that you're going to use it for that, so I doubt you'll get anyone to take it into account when calculating the LTV.

A fees-free whole of market adviser should be able to tell you of any lenders who would.
Or if you've got a particular lender in mind then phone them up and ask them.

But I can't see them going for it myself.

de1amo

if its things like double glazing and a more modern kitchen they do not make a house habitable! if you read the other threads about problems with under writers and under valuations by surveyor they are being really tight and covering their backs--they never have taken into account the improvements you 'might' do with their advance--they just look at the value as it stands--if its uninhabitable they have over valued it because they would only give a mortgage on a house fit to live in!!

Niv

Specifically what needs to be done to make the house habitable? If you say kitchen, please explain what makes the existing kitchen unusable.