"Explained things in concise clear language. Easy manner - no pressure - created environment to make a decision."
Mr & Mrs M., Leeds, West Yorkshire
The Loan to Value (LTV), usually expressed as a percentage, is the maximum proportion of the property value a lender is prepared to advance on mortgage on any particular mortgage product.
Here we take a look at Loan to Value (LTV) together with how it works, and investigate how the Loan to Valuation may affect you when it comes to getting a mortgage. We also discuss how we may be able to help arrange a mortgage even if you require a high percentage Loan to Valuation and have experienced credit difficulties.
Table of Contents:
As we mentioned above then, the Loan to Value (sometimes referred to as LTV for short) is the maximum proportion of the property value that a mortgage lender is prepared to advance on mortgage on any particular product. The Loan to Valuation is usually expressed as a percentage figure.
So, how does Loan to Value work in practice. Well, its probably a good idea to have a look at a few examples.
So, how might the Loan to Valuation affect you when it comes to arranging a mortgage? Good question! Well simply put, the higher the loan to valuation percentage is, the greater the lender's potential risk. As a result, Mortgage Lenders will often:
Usually, yes we can!
Here at Shire Direct we have developed an extensive range of mortgage products designed to accommodate most types of circumstances, even at the higher loan to valuation ratios.
We understand that not everything in life is straight forward, and that many of us at one point will end up hitting hard times, and often through no fault of our own. Illness, accident, redundancy, bereavement and relationship breakdown and the like could all have a devastating impact on our personal lives, and can throw our financial management completely out of kilter!
So, a brief call to one of our qualified Mortgage advisors should give you a clearer picture as to the options open to you. You'll find our approach to be friendly, professional and helpful - advice and service always come first at Shire Direct. We'll carefully look at your circumstances, needs and requirements together with your aspirations and come up with the most appropriate solution for you.
Hopefully we've answered your initial questions on Loan to Value (LTV) and shown that we may well be able to assist, even if you require a high loan to valuation, and have credit problems. So, please don't hesitate to Contact Us if you would like to discuss your requirements and the options open to you. Our mortgage advisors are available on Freephone 08000 282 281, up until 10.00pm everyday (including weekends), and will be delighted to provide you with an in-principle decision - whatever your circumstances. Remember, you can also enquire online at any time, we'd love to hear from you!
The overall cost for comparison is 9.8% APR.
The actual rate available will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Most customers are likely to receive a lower rate or the same rate as our overall cost for comparison rate - learn more about APR.
There are no upfront broker fees.
However, a fee may be charged on successful completion. An indication is that on conforming cases (straightforward applications with no or minimal adverse credit) a fee may be charged of up to 1% of the amount advanced, typically £795 and will depend on your circumstances.
For non-conforming cases (where case research and processing may be more complex due to adverse credit or unusual circumstances), a fee may be charged of up to 3% of the amount advanced, typically £1,995.
THINK CAREFULLY BEFORE
SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED
IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Adding existing debt to your mortgage will increase the repayment term and overall cost.
Are you worried and becoming stressed because you are having problems getting a mortgage or remortgage? Worry and stress no more! Here at Shire Direct we provide tailor made mortgage solutions to suit you, and can usually help with all kinds of circumstances including...
Remember, we're here to help, and would love to hear from you!
Shire Direct and Shire Direct Mortgages are trading styles of Shire Processing Centre Limited which is
Authorised and regulated by the Financial Services Authority in respect of regulated mortgage products and general insurances.
Registered No: 302389. Commercial funding and Secured Loans are not regulated by the FSA.
Licensed Credit Brokers. Consumer Credit Licence Number: 349999.
Shire Processing Centre Limited is registered under the provisions of the Data Protection Act by the Information Commissioners Office: Registration No: Z6795249. Registered in England & Wales. Company number: 2732202. Telephone calls may be recorded for training, monitoring and security purposes. All applicants must be aged 18-years or over.
