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LTV Woes !
drewster_uk
Posts: 15 Forumite
Hi
I've come to the end of my fixed rate deal with the Chelsea. I'm trying to get a better deal from them, which requires me to have a 75% LTV.
They told me I can only have the 80% LTV deals as my house isn't valued high enough according to Halifax Price Index.
Now I know what my home is roughly worth due to getting to recent valuations and similar houses selling on the street, and it's over 20k more than the Chelsea have it valued at.
I've calculated our LTV would be around 68%.
They have offered me the option to get a company called "country wide" to come round and value my house, but speaking to a friend he said it was pointless as they are not from the area and massively undervalued his home.
Do I have any options, are all LTV's from other mortgage companies based on the Halifax Price Index?
Any advice is greatly appreciated.
Drew
I've come to the end of my fixed rate deal with the Chelsea. I'm trying to get a better deal from them, which requires me to have a 75% LTV.
They told me I can only have the 80% LTV deals as my house isn't valued high enough according to Halifax Price Index.
Now I know what my home is roughly worth due to getting to recent valuations and similar houses selling on the street, and it's over 20k more than the Chelsea have it valued at.
I've calculated our LTV would be around 68%.
They have offered me the option to get a company called "country wide" to come round and value my house, but speaking to a friend he said it was pointless as they are not from the area and massively undervalued his home.
Do I have any options, are all LTV's from other mortgage companies based on the Halifax Price Index?
Any advice is greatly appreciated.
Drew
0
Comments
-
Is your friend a property expert?They have offered me the option to get a company called "country wide" to come round and value my house, but speaking to a friend he said it was pointless as they are not from the area and massively undervalued his home.0
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Thrugelmir wrote: »Is your friend a property expert?
yes i think he was.0 -
You have a choice if you wish to stay with your current lender.
Rely on their interpretation of the Halifax HPI or allow the lender to send out their valuer (Countrywide).
Seems fair to me.
If not, remortgage elsewhere.0
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