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New Deal 20% LTV?
JMD_2
Posts: 9 Forumite
Hi there,
We have been on the 4.99% A&L SVR for over a year now after our deal expired and no other deals were available due to LTV. We now have 18% LTV which I can raise to 20% if required.
I have called A&L this morning and they can fix it for a year on 4.24% which will save me £50 a month (£774 -> £726).
Just dipping my toes in the water on this site to see if anyone has any recommendations. Is fixed where I should be looking at going or is there another option that is recommended in this volatile market place?
Jonathan.
but i'm looking to reduce outgoings.
We have been on the 4.99% A&L SVR for over a year now after our deal expired and no other deals were available due to LTV. We now have 18% LTV which I can raise to 20% if required.
I have called A&L this morning and they can fix it for a year on 4.24% which will save me £50 a month (£774 -> £726).
Just dipping my toes in the water on this site to see if anyone has any recommendations. Is fixed where I should be looking at going or is there another option that is recommended in this volatile market place?
Jonathan.
but i'm looking to reduce outgoings.
0
Comments
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Are you talking LTV or a % deposit?
Loan to Value is the amount of the loan divided by the value, so if £80,000 loan on £100,000 valuation you would get 80% LTV.
If £18,000 loan against £100,000 valuation you would get 18% LTV.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Sorry, the loan amount was 146000, current balance of the mortgage is 123k.0
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What is the A&L fee for fixing it?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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she didn't say there was a fee so i assume there isn't one.
would you recommend a 1 or 2 year fixed or should I be looking at fixing it for longer?0 -
I would call them to double check about the fee.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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The current A&L SVR is 4.24%... Just look at their website and go to the mortgage section. I'm with them as well and paying 4.24%.0
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Hi JMD
You dont give the value of your property so we dont know the LTV which is very important
There are a couple of fixes at less than 4% ( YBS over 5 years) but the LTV must be 75% or less.
One year fix is a bit of a waste of time as 12 months will soon fly by.
Consider long term fix unless moving sooner0
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