LTV (Loan to Value) Calculator
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LTV (Loan to Value) Calculator
Loan to Value Calculator
The LTV (Loan to Value) Calculator helps you understand what loan to value is, how it affects your mortgage loan, and what level of loan to value applies to you.
What is Loan to Value?
Loan to value is expressed as a percentage showing the value of a loan in relation to the value of a property as calculated by the mortgage lender.
How do mortgage lenders use Loan to Value?
Mortgage lenders calculate loan to value to decide whether or not to lend. Depending on the level of equity the borrowers has, the deposit for first-time buyers, the loan to value percentage will go up and down. Therefore, high loan to value loans are those in which the money lent is high compared to the deposit and equity in the property. If a borrower pays a deposit of 10 per cent, the loan to value on the property will be 90 per cent.
My Loan to Value might be high, how does this affect me?
Use the loan to value calculator to assess what your loan to value is. Borrowers with high loan to value could be denied a mortgage, depending on lender and individual circumstances. In the current climate, borrowers with high loan to value may also not be able to access the best mortgage deals on the market. Some lenders stipulate a maximum loan to value, usually between 75% and 95% depending on the property and the borrower.
High loan to value borrowers may also be required by the lender to take out mortgage indemnity insurance.
Loan to Value News
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| Mortgage lending still low, figures reveal - Mon, 05 Jan 2009 |
| Mortgage lenders will follow Nationwide's lead, expert claims - Mon, 05 Jan 2009 |
| Nationwide to freeze tracker mortgages - Fri, 02 Jan 2009 |
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