LTV Calculation

City_Girl_2

Apologies in advance if I come across as thick:o but how do I calculate our LTV?

We bought our house in Oct 2007 for £162k and put down £50k deposit. So we had a 25 year, £112k mortgage with Nationwide.

We now owe approx £106k, are presently on the SVR and have 21yrs 10 months remaining. House worth approx £150'ish at the present time, although this is my guess.

So what is our LTV and how is it calculated?

Thanks in advance

CITY

ess0two

Around 30%ish

Wakey2008

Your LTV is around 70.66%. Don't know where the last poster got their figure from.

Simple way to work out LTV is to take the borrowing figure (£106k in your case), divide by the property value and hit the percentage button. So 106k divide by £150,000 % = 70.66% LTV.

City_Girl_2

Thanks for your replies.

Wakey, just what I wanted to know, and so easy too. Cheers

CITY

Gorgeous_George

You know the L bit of LTV (sum borrowed). The V is decided by the lender and may or may not be similar to your figure.

Your lender needs to value the house at £132.5K to achieve an 80% LTV or £141.3K to achieve 75%.

I don't know where you live nor the condition of the housong market but £150K may be abot right but your lender may decide you are nearer £140k making the 75% LTV deals just out of reach. You may be able to achieve the extra £1.3K from elsewhere to still achieve 75%.

As you are with Nationwide, does your mortgage move to 2.5% soon?

Regards


GG

City_Girl_2

Thanks for your reply GG. We are on 2.5% at the moment and have been since Oct/Nov 2009.

My question was just out of curiosity having seen "LTV" mentioned a lot in other posts I just wondered, although I am sure we will start having a look around at offers in the New Year so your post is helpful.

CITY