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LTV based offers - nothing less than 60%
Mr_Incredible
Posts: 247 Forumite
Why are there no deals predicated on LTV hurdle % less than 60%.
I mean if the banks are correlating their interpretation of risk relative to the percieved collaterol in the property then why not offer deals based on; 50% or even 40% at lower rates than they do for 60%?
I mean if the banks are correlating their interpretation of risk relative to the percieved collaterol in the property then why not offer deals based on; 50% or even 40% at lower rates than they do for 60%?
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Comments
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why - if the 60% rates are already the best they will do?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
why - if the 60% rates are already the best they will do?
thats like saying why have insurance rates that reflect over 1 years no claims.
The answer is because the more progressive, the less risk to the lender in the case of the financier of the mortgage. I'm just saying that there don't appear to be any such deal on the market.
In the past there were, Britania Building Society were one such, and others more recently have such as below but I can't see any on a current search
http://www.mortgagestrategy.co.uk/natwest-introduces-50-ltv-deals-but-ups-rates-on-7-products/1063966.article0
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