Shared Ownership Mortgages

Juice_Terry_2

Hello, long time lurker, first time poster here.

When looking at mortgage deals on the internet, is the LTV rate related to the property as a whole, or just the value of the part that is mortgaged?

For example, in my case I've bought 75% of my property through a mortgage (with 10% of the 75%) value put down as a deposit.

Would a lender consider my LTV to be 90% or 75% or less.

Any help much appreciated.

Jellybean_Jo

You put down a 10% deposit on the share you purchased, so the other 90% of your share is mortgaged. So you have a 90% LTV.

I've just bought a 50% shared ownership for £48,000 with a 15% deposit, so my LTV is 85%.

I think that's right...

nate_dog

You have a 90% LTV mortgage on 75% of the property as you don't 'own' the other 25% of the property.

Check your mortgage paperwork and all the info should be there.

Juice_Terry_2

Thank you for the responses.

oplus

Never ever bother with what is euphemistically described as shared ownership.