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Remortgage and equity / LTV - advice please
kipperphill
Posts: 11 Forumite
Hi there
We have about 12% equity in our house. I would like to re-mortgage and fix the interest rate.
The mortgage is about 3.5 times my salary. My partner does not work.
The only decent (sub 5%) deals I have seen around seem to rely on 30% equity.
Does anyone know if there are any good deals around which we would qualify for?
I intend to go to a broker, but would like to go in fully aware of what is out there.
Cheers
KP
We have about 12% equity in our house. I would like to re-mortgage and fix the interest rate.
The mortgage is about 3.5 times my salary. My partner does not work.
The only decent (sub 5%) deals I have seen around seem to rely on 30% equity.
Does anyone know if there are any good deals around which we would qualify for?
I intend to go to a broker, but would like to go in fully aware of what is out there.
Cheers
KP
0
Comments
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On that loan to value, no real deals offering sub 5% deals fix. You'd be more looking like mid to late 5s.
Best to do some research on house value and see if you can squeeze under the 85% LTV bracket or try your best to reduce the loan0 -
Thank you for the advice. Is 85% a threshold for better rates then? I think with a bit of tinkering we could get there.0
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kipperphill wrote: »Thank you for the advice. Is 85% a threshold for better rates then? I think with a bit of tinkering we could get there.
Big style!! Rates can go down to 4.49% on this basis for a 2 yr fixed0
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