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Ltv ?
jfally
Posts: 1 Newbie
Just have a quick question about the Loan to Value (LTV)
ive tried searching about on the internet but still cant find anything to answer my question.
Is the LTV rate based on the house price you bought or is it the actual value of the house?
I have been looking at a house that has been valued at £125,000 on the home report but is for sale for £115,000
ive tried searching about on the internet but still cant find anything to answer my question.
Is the LTV rate based on the house price you bought or is it the actual value of the house?
I have been looking at a house that has been valued at £125,000 on the home report but is for sale for £115,000
0
Comments
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It will be based on the LOWER of the purchase price or valuation, unless Right to Buy or family saleI 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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So, when house prices go up (or down) say 5 years into a mortgage deal and you're looking at remortgaging what LTV figure do they use then?
thanks.0 -
So, when house prices go up (or down) say 5 years into a mortgage deal and you're looking at remortgaging what LTV figure do they use then?
thanks.
The valuation. With a remortgage there is no purchase price so the only figure is the valueI 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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