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Looking for a mortgage with LTV based on valuation NOT purchase price
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dominicadatia
Posts: 20 Forumite
Is there such a mortgage that is based on the valuation of the property and NOT the purchase price? It seems that all the providers say they take the lower of the two. I purchased my property in November and have added around £10k worth to it, and with the (small) growth in the market, my LTV should be a bit better.
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By the way, I mean an LTV for a remortgage.0
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They will lend on the current value at the present time, not the price you bought it for. Your question really only applies when a property is being bought for less than market value.I 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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