Mortgage LTV's

marathonic

Hi,

Are there any figures available for the percentage of mortgage applications actually approved at various LTV's or do any of you brokers have figures (or rough estimates) of the percentages?

Before approaching a broker, I'm looking at houses available locally. I'd like to have some idea of the advantages of saving for longer when intending to apply at various LTV's.

Basically, I have a 20% LTV if I buy a house in good shape but am also looking at houses requiring some work where I'd have to hold back some of the deposit.

Thanks in advance.

ACG

At 20% deposit, presuming you have a decent credit file and affordability wise you meet the lenders criteria you shouldnt have a problem.

Its really only the 90% LTVs that are hard to secure. From 85% downwards it gets easier.

There are no statistics released, so its impossible to say. Each lender also has different criteria so it would be possible to do as most people go for the headline rate which means more declines than is necessary if people went to a broker or did their research first - so the figures wouldnt be accurate at all.

Dave_Ham

ACG summarises well.

If you provide more information about your circumstances, we can perhaps be more definitive.

If there are no skeletons and income/affordability is ok, then at 80% LTV nearly all are accepted especially if your broker knows his onions and approaches a lender that still has an appetite to lend..