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Quick LTV question
ilnf
Posts: 150 Forumite
Hi.
Remortgaging and my LTV is close to 90%. Waiting for the valuation but could go either way.
How does the LTV percentage work with decimal points? Although probably not worded properly, what I'm asking is does a lender accept a 90% LTV for up to just 90.00% LTV or would it accept if the % was 90.40 or even 90.90? Do lenders round up or down? Specifically HSBC if anyone knows?
Thanks very much.
Remortgaging and my LTV is close to 90%. Waiting for the valuation but could go either way.
How does the LTV percentage work with decimal points? Although probably not worded properly, what I'm asking is does a lender accept a 90% LTV for up to just 90.00% LTV or would it accept if the % was 90.40 or even 90.90? Do lenders round up or down? Specifically HSBC if anyone knows?
Thanks very much.
0
Comments
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Does anyone know?0
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If it is 90%, it is upto 90%, so 89.99% will be fine, 90.00% will be fine, 90.01% won't.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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Fingers crossed then. Thank you.0
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The other alternative is to have some money available to put into the deal, patticulalry if it is this close, an extra few hundred might make the difference.0
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I agree. An old Abbey trick which can sometimes work today was to submit a DIP at 89.9%, rather than 90% to see if it passed when you were a bit doubtful.
On a £200k property, £180k mortgage, that's just £200 difference and it gets you £200 more equity in your home - it's not like it's a fee you pay to someone else...I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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