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LTV vs Deposit%
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Bark01
Posts: 892 Forumite
How is a deposit calculated. I’ve read in numerous places that it’s deposit / value of house, but then other places mention LTV which is deposit / mortgage
I have 65k deposit and I’m looking at a 260k property
Should I be using 25% or 33% when trying to find the right mortgage?
I have 65k deposit and I’m looking at a 260k property
Should I be using 25% or 33% when trying to find the right mortgage?
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Comments
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Where have you read deposit/mortgage is LTV?0
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your loan to value is the value of the house v what you need to borrow.
Eg
£100,000 house
£90,000 borrowed
£10,000 deposit
LTV 90%0 -
getmore4less wrote: »Where have you read deposit/mortgage is LTV?
Yep, I completely misread what I was looking at ...0 -
"LTV" is "Loan to Value", so it is the percentage of the loan versus the value of (what you are paying for) the house. In your case you have a 25% deposit and require a 75% mortgage, so your LTV is 75%.0
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I agree with scottishblondie, your ltv is 75%
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