We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Best LTV rates available (Not FTB)
emma.b123
Posts: 41 Forumite
Hi All,
Does anyone have any recent experience getting any high LTV rates? We bought back in 2009 - and were informed we were the last in the country to get approved for a 100%. Now we are in a situation where we have now just about cleared being in neg equity (due to the value crash), and are considering moving in the not-too distance future (we're looking to upgrade from a 2 to 3 bed). I have done some basic maths and figured we can scrape about £8,000 next year for deposit. Unfortunately, living in the south east, this means this is only likley to give us about 5% equity for what we are looking for. I know a lot of this is conjecture and 12 months away is a long time to estimate what the market will look like - but my husband is in favour of extending the property, whereas I don't think we'll realise the money spent in doing this in housing value - therefore I'm on the side of moving.
(We're currently in a SVR with Santander, have a good credit rating and a combined yearly earnings of approx £65,000.)
Does anyone have any recent experience getting any high LTV rates? We bought back in 2009 - and were informed we were the last in the country to get approved for a 100%. Now we are in a situation where we have now just about cleared being in neg equity (due to the value crash), and are considering moving in the not-too distance future (we're looking to upgrade from a 2 to 3 bed). I have done some basic maths and figured we can scrape about £8,000 next year for deposit. Unfortunately, living in the south east, this means this is only likley to give us about 5% equity for what we are looking for. I know a lot of this is conjecture and 12 months away is a long time to estimate what the market will look like - but my husband is in favour of extending the property, whereas I don't think we'll realise the money spent in doing this in housing value - therefore I'm on the side of moving.
(We're currently in a SVR with Santander, have a good credit rating and a combined yearly earnings of approx £65,000.)
...Money spending expert since 1983....
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards