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  • FIRST POST
    • Thurso man
    • By Thurso man 11th Jan 18, 12:32 AM
    • 20Posts
    • 7Thanks
    Thurso man
    Mortgage LTV property valuation.
    • #1
    • 11th Jan 18, 12:32 AM
    Mortgage LTV property valuation. 11th Jan 18 at 12:32 AM
    Hi,

    I am due to come to the end of my fix term mortgage having bought my house two years ago.

    I am right on the edge of having a LTV of 85%. At the moment I am slightly above it however,

    When I bought the house it was valued £3k more than what i paid for it. With the valuation being £3k more I would be below the 85% LTV.

    I Am currently with the Halifax and I’ll ‘shop’ around for the best deal but my question is...

    Will Halifax take the valuation of my house at what it is was 2 years ago? what i paid for it two years ago? Will they come up with a value based on the market etc? Or will I have to get it revalued by a surveyor and hope they value it at the same value as 2 years ago?

    I am worried the bank will want me to stay above 85% so they get more money out of me.

    Thanks for any help.
Page 1
    • kingstreet
    • By kingstreet 11th Jan 18, 9:33 AM
    • 33,564 Posts
    • 18,202 Thanks
    kingstreet
    • #2
    • 11th Jan 18, 9:33 AM
    • #2
    • 11th Jan 18, 9:33 AM
    They use an indexed valuation.

    Brokers can access these online using a mortgage account number, so you can probably do the same.
    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.
    • copperclock
    • By copperclock 11th Jan 18, 10:03 AM
    • 272 Posts
    • 327 Thanks
    copperclock
    • #3
    • 11th Jan 18, 10:03 AM
    • #3
    • 11th Jan 18, 10:03 AM
    You should be able to call them and ask what they value your house at today.
    • Thurso man
    • By Thurso man 28th Jan 18, 4:47 PM
    • 20 Posts
    • 7 Thanks
    Thurso man
    • #4
    • 28th Jan 18, 4:47 PM
    • #4
    • 28th Jan 18, 4:47 PM
    Just a update, spoke with halifax today. They value the house on what houses near to me have sold for. Good news LTV is 79% so should get a decent deal.
    • dimbo61
    • By dimbo61 28th Jan 18, 5:03 PM
    • 9,911 Posts
    • 5,335 Thanks
    dimbo61
    • #5
    • 28th Jan 18, 5:03 PM
    • #5
    • 28th Jan 18, 5:03 PM
    So can you put some cash into the mortgage and get the LTV down to 75%
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