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LTV thresholds
mouthscradle
Posts: 1,007 Forumite
Hi all. A bit of an out-of-interest question, as it doesn't affect me, but was just wondering how lenders treat the LTV threshold values. Do they round value to the nearest % in the borderline cases? If your LTV is 75.49%, do they round down and offer you their 75% product, for example? Or is it a case of 75.000001% or above and you're put into the 80% LTV bracket? Thanks.
Mother, wife, scientist, analyst.
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if your loan amount exceeds 75.0%, you will be offered a product in the upto 80% range.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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Thought that would be the case. Thanks!Mother, wife, scientist, analyst.
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If we got such an enquiry we would work out the difference in deposit to get back to 75% and ask the client if that could be achieved to secure the better mortgage product options.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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So should I be telling my broker I want to put down 21% rather than 20%?0
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20% will put you in the 80% band and 21% will leave you still in the 80% band.So should I be telling my broker I want to put down 21% rather than 20%?
If you can get into the next LTV band it's worth it.
Work in £ instead of %.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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