High LTV mortgages now account for one in five of all new mortgages

wotsthat

Percy1983 wrote: »

I took out a 25 year mortgage so will I ever have to remortgage?

If a better deal comes along great, if not I stay put. As you are getting at prices going up/down will effect potential future deals but as we can afford the current deal with a base rate of 27% I am not too worried if I end up 'stuck'.

Will just deal with what happens as/when it does as the rest is out of my control.

If your house has increased in value since purchase then it may be that you fall into a lower LTV band and you can get a better deal even with your existing lender.

I'm in the process of moving a mortgage on a second home to my main home. My lender values my house higher than I do but it means I just sneak under a LTV band - my total debt is quite low but I'll save about £20/ month for the next 5 years just from the rebanding.

Better in my pocket than theirs. Better deals don't just 'come along' - you have to look for them.

mayonnaise

Percy1983 wrote: »

I took out a 25 year mortgage so will I ever have to remortgage?

Oh okay. I didn't realise you were planning on riding out your 5% fix until 2017 and then go on your lender's SVR for the next 20 years. Good luck.

Percy1983

wotsthat wrote: »

If your house has increased in value since purchase then it may be that you fall into a lower LTV band and you can get a better deal even with your existing lender.

I'm in the process of moving a mortgage on a second home to my main home. My lender values my house higher than I do but it means I just sneak under a LTV band - my total debt is quite low but I'll save about £20/ month for the next 5 years just from the rebanding.

Better in my pocket than theirs. Better deals don't just 'come along' - you have to look for them.

I agree completely, my point is the availability of said deals is down the factors out of my control and to stay on the SVR wouldn't make me a significant risk if that was the best/only option. Of course I am going to look for better deals.

mayonnaise wrote: »

Oh okay. I didn't realise you were planning on riding out your 5% fix until 2017 and then go on your lender's SVR for the next 20 years. Good luck.

Missed the point, I don't have a plan. I can only make a plan if I know what is going to happen to which I openly admit it. As mentioned being 'stuck' on the SVR wouldn't be a disaster or make me high risk if I did end up in negative equity.