Mortgage LTV bands and getting cheaper rates?

homeless9

Next year I will be renewing my mortgage as my first 5 year term comes to an end....

I have a LTV of 24%....

Do LTV's work in increments of 5%? So in theory would I need to get this 24% down to 20% to trigger the next best mortgage rate?

Curious to know so I can decide what overpayments to make before my current term ends.

pogg000

60 is the lowest

homeless9

pogg000 said:

60 is the lowest

Thought that might be the case as the websites I looked at to find out about this only mentioned 90% down to 60%, but didn't directly say that 60% was the lowest LTV that triggers cheaper rates.

ok, so I am getting the cheapest rates I can possibly get.

Cheers.

la531983

Not every lender will do products in bands of 5% anyway.

amnblog

Typical bands are 60% 65% 70% 75% 80% 85% 90% 95% (most lenders will use some, not all, of these)

Most commonly used bands are 60% 75% 85% 90%

Occasionally, you will see a 50%