Who decides LTV?
Discussion
Morning Guys
Quick question. I purchased my property with a 10% deposit giving me 90% LTV.
My current deal is due to expire in a month so I can switch. My property "should" have gone up a thousand or two compared to those that have sold in the last 2 years, and obviously I have paid a meagure sum of the property value. In my opinion I should be down to 85% LTV.
At 85% LTV the halifax will offer a better rate but who decides? The chap on the phone? Does the house need to be re surveyed?
Thanks, First time deal chooser
Quick question. I purchased my property with a 10% deposit giving me 90% LTV.
My current deal is due to expire in a month so I can switch. My property "should" have gone up a thousand or two compared to those that have sold in the last 2 years, and obviously I have paid a meagure sum of the property value. In my opinion I should be down to 85% LTV.
At 85% LTV the halifax will offer a better rate but who decides? The chap on the phone? Does the house need to be re surveyed?
Thanks, First time deal chooser
sc0tt said:
Morning Guys
Quick question. I purchased my property with a 10% deposit giving me 90% LTV.
My current deal is due to expire in a month so I can switch. My property "should" have gone up a thousand or two compared to those that have sold in the last 2 years, and obviously I have paid a meagure sum of the property value. In my opinion I should be down to 85% LTV.
At 85% LTV the halifax will offer a better rate but who decides? The chap on the phone? Does the house need to be re surveyed?
Thanks, First time deal chooser
Generally, if you remortgage with the same lender they won't re-survey the property and will either use the original figure or will revert to online data similar to the Nationwide HPI.Quick question. I purchased my property with a 10% deposit giving me 90% LTV.
My current deal is due to expire in a month so I can switch. My property "should" have gone up a thousand or two compared to those that have sold in the last 2 years, and obviously I have paid a meagure sum of the property value. In my opinion I should be down to 85% LTV.
At 85% LTV the halifax will offer a better rate but who decides? The chap on the phone? Does the house need to be re surveyed?
Thanks, First time deal chooser
If you remortgage to a new lender they will send out a surveyor in most cases to ascertain it's current value rather than what it was two years ago.
Sarnie said:
Generally, if you remortgage with the same lender they won't re-survey the property and will either use the original figure or will revert to online data similar to the Nationwide HPI.
If you remortgage to a new lender they will send out a surveyor in most cases to ascertain it's current value rather than what it was two years ago.
Thanks Sarnie.If you remortgage to a new lender they will send out a surveyor in most cases to ascertain it's current value rather than what it was two years ago.
Sarnie said:
Generally, if you remortgage with the same lender they won't re-survey the property and will either use the original figure or will revert to online data similar to the Nationwide HPI.
If you remortgage to a new lender they will send out a surveyor in most cases to ascertain it's current value rather than what it was two years ago.
I called the Hfx yesterday and they asked for a rough property estimate. I said between 195-200 and she said they had data for 197500. Luckily I just managed to sneak in at 84% LTV and bag a cheaper interest rate.If you remortgage to a new lender they will send out a surveyor in most cases to ascertain it's current value rather than what it was two years ago.
Good start to the weekend. Cheers for you help sarnie.
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