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LTV Query
Pearl1
Posts: 72 Forumite
Finally received a mortgage offer :j
Couple of queries regarding this....
1. The offer received is for a 20yr term, 2yr fixed, £780 a month, yet the deal agreed with our mort adviser was for 28yr, 5yr fix, £690 per month, this we were going to make over payments on. This mortgage process has been ongoing for 4 months now, either deal I'll be happy with, just wondered why they are different. I'm waiting on the advisor to call back
The other thing is the valuation, no one has entered the property or contacted us regarding this, but it has been under valued by at least 120k. Would a realistic valuation with a better LTV open up better deals? I think our LTV should be approx 37%, the new mort offer is approx 56%.
Any views?
Couple of queries regarding this....
1. The offer received is for a 20yr term, 2yr fixed, £780 a month, yet the deal agreed with our mort adviser was for 28yr, 5yr fix, £690 per month, this we were going to make over payments on. This mortgage process has been ongoing for 4 months now, either deal I'll be happy with, just wondered why they are different. I'm waiting on the advisor to call back
The other thing is the valuation, no one has entered the property or contacted us regarding this, but it has been under valued by at least 120k. Would a realistic valuation with a better LTV open up better deals? I think our LTV should be approx 37%, the new mort offer is approx 56%.
Any views?
0
Comments
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You need to speak to your broker.
There is a lot that sounds wrong with this and anything anyone says is just guesswork.
You should have known the property was downvalued prior to getting an offer really especially by £120k.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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