BOI - Borrowing more

bashiraad

Hi,


I currently have a repayment mortgage with BOI and have recently fixed my rate for 2 years. My LTV is approx under 70%


Does anyone know if the process of borrowing more is a simple one?


1. Will BOI let me do this even though I have just fixed my rate?
2. What is the max they allow you to borrow?
3. Do I need to provide payslips, bank statement etc.. for this?


Thanks

andys15

1. Yes
2. They have rates on there website. It will all be based on LTV.
3. Just phone and ask. They go through all your incoming and outgoings. They then speak to the underwriters as you are on the phone. They are basically looking at debt to income of less than 30%. We didn't make that and told that they wouldn't lend us more. Out LTV was about 55% and we have about £150k equity. They also had our house price a good 60k below current valuation. ( a real valuation, not estate agent one). Houses a lot smaller, terraced, ( ours is detached), 2 bedroomed( our is 3) have sold in the last few months for 30k higher than they had ours valued at.