Mortgage LTV - impact of getting from above 75% to 75% or 70

[NDT]

We need to remortgage next year.
LTV is currently just over 75%.
I can put some cash in to drop it to 70%.
I will be looking to fix for a couple of years.

Does anyone know what reduction in rate a lender will typically give when you move from over 75 LTV down to 75 and then as low as 70%?

Are they bothered about 70% LTV or is the next break point 60%

thanks for any help!

[Sarnie]

Rates usually reduce in increments of LTV every 5%, from 95% down to 50% LTV......

No one can tell you what the rates will be in any LTV category until you are six months out from your rate expiry........rates are changing daily currently.........

[Stevemr]

You need to look at all the fees as well.
This is where a broker is invaluable, they can use a sourcing system with all lenders on (make sure they can access all lenders,) they can make the sourcing system look at all 2 year fixes on a “total to pay basis.” This then gives you the true cost of the two year fix.
As sarnie says, look at this 6 months before remo due.

[NDT]

thanks both.
I'm trying to make an investment decision about the 50k now, hence looking for a rule of thumb for how much of a rate drop I might get for moving down an LTV band.
Sounds like that's not possible though.

[Pit Pony]

NDT said:

thanks both.
I'm trying to make an investment decision about the 50k now, hence looking for a rule of thumb for how much of a rate drop I might get for moving down an LTV band.
Sounds like that's not possible though.

Just go on a mortgage comparison or even virgin money's website, and pretend you are looking to remortgage today.