High loan to value

nakmeister

Is 90% the highest loan to value that is available at the moment? And what sort of multiple of income do lenders offer these days? Myself and my wife got a 100% mortgage in late 2006 - we are now in a position where we will need to move to a bigger house soon, and are worried that because we don't have much equity in the house we may not be able to do. It's difficult to know how much equity we have without knowing how much we will be able to sell our house for, but it's probably in the region 92-94%. We have some savings we can add to that, but think we may have to pay quite high mortgage arrangement fees too as well as the usual moving costs? We are looking for a multiple of about 3 x on joint income, and don't have any other debts.

Any info about what loan to value mortgages available and the sort of arrangement fees payable would be great. Thanks!

Jonbvn

You are very unlikely to get a mtg with an LTV above 90%. 100% LTV mortgages are no longer available.

nick1977

Depending on your mortgage provider you may be able to borrow upto 95% LTV if you are moving house and keeping your mortgage with them. I know Nationwide does this, but there are probably others that do too.

Nick

herbiesjp

Indeed - some lenders will allow existing customers to go to 95% if moving and porting.

However, affordability calculators have become a lot more stringent and therefore whilst in theory it is doable, it may not happen in reality.

So 90% is the max you could look.

At 3 times joint income you should have a few options (assuming no major debts, not many dependents, and good credit history) - although rates will not be as competitive as headline rates.