Purchase price lower than value, what LTV?

[Deleted User]

Snookie12cat said:

Deleted_User said:

Snookie12cat said:

thudspud said:

Snookie12cat said:

If li believe some places allow gifted deposit in the form of equity from your landlord but not many and then you are limiting massively who you can go with.
I would speak to a broker and talk through both options and see what is better 

Interesting, so probably worth taking the cheapest tracker and remortgaging as soon as possible to get the LTV down?

It really depends who will offer you what. You cant remortgage until 6 months have passed either, so factor that into your calculations as well. 

Day 1 remo is entirely possible 

Yes, but very limited lender wise and will probably pay a higher rate than the high street lenders. 

Im not sure where you are getting your information from but day1 remo is offered by plenty high street lenders who offer the best rates in the market.    Natwest, HSBC, Santander, Virgin, Leeds, Barclays, Clydesdale, Nationwide....all top lenders who do day 1 remortgages.   

OP - as long as you have a 5% deposit yourself then you can use the market price as for the loan to value calculation and you can be on the high street.  If you have 10% deposit then there are more options on the high street.    Speak to a qualified, experienced broker to get the best advice

thudspud

We have a 10% deposit of the purchase price. Was hoping to get a better LTV to get a better rate.

will try and find a decent broker, was going to use L&C but heard they aren’t very good with applications that aren’t straight forward and my wife is Self Employed.

Snookie12cat

thudspud said:

We have a 10% deposit of the purchase price. Was hoping to get a better LTV to get a better rate.

will try and find a decent broker, was going to use L&C but heard they aren’t very good with applications that aren’t straight forward and my wife is Self Employed.

I tend to agree. I didn't think much of them when I got advice.
Try and find a specialist broker who deals in more wierd and wonderful cases 👍