hf1

Renewing the mortgage

My avatar
ems101
Cloth Nappy Disciple
Cloth Nappy Disciple

Renewing the mortgage

Postby ems101 » Sat Jan 25, 2014 4:26 pm

So we are coming to the end of a 4yr fixed term. We wantcto renew to another fixed term. Weve some some work to our house and generally house prises have risen, plus weve paid off a bit of the mortgage obviously. So how do we a) know what the house value is and b) work out what our deposit is for working out our LTV?

My avatar
sim
Cloth Nappy Wise Woman
Cloth Nappy Wise Woman
Thankyou Moderators :)
Site Supporter

Re: Renewing the mortgage

Postby sim » Sat Jan 25, 2014 9:24 pm

I have no idea :giggle: but good luck!

My avatar
confusinglady
Cloth Nappy Fanatic
Cloth Nappy Fanatic

Re: Renewing the mortgage

Postby confusinglady » Sat Jan 25, 2014 11:53 pm

I m going to be thick now but what is LVT? I m obviously lots of help :giggle:!

My avatar
confusinglady
Cloth Nappy Fanatic
Cloth Nappy Fanatic

Re: Renewing the mortgage

Postby confusinglady » Sat Jan 25, 2014 11:53 pm

Or LTV even!!!

My avatar
ems101
Cloth Nappy Disciple
Cloth Nappy Disciple

Re: Renewing the mortgage

Postby ems101 » Sun Jan 26, 2014 6:22 am

Loan to value. So how much we want to borrow compaired to how much its worth. Originally that was 85%. We hsd a 15% deposit. We now have more capital in the house so the ltv is lower and we can hopefully get a better rate!

My avatar
clothmama
Cloth Nappy Chatterbox
Cloth Nappy Chatterbox
Site Admin

Re: Renewing the mortgage

Postby clothmama » Sun Jan 26, 2014 6:56 am

I hope you can do what you want to do. Doing something like a kitchen is adding value to the house as well so hopefully a win win!

My avatar
confusinglady
Cloth Nappy Fanatic
Cloth Nappy Fanatic

Re: Renewing the mortgage

Postby confusinglady » Sun Jan 26, 2014 8:43 am

ems101 wrote:Loan to value. So how much we want to borrow compaired to how much its worth. Originally that was 85%. We hsd a 15% deposit. We now have more capital in the house so the ltv is lower and we can hopefully get a better rate!


Hmmm I can t think how we did it now when we remortgaged. Since then we ve had the house valued so would now use that value. Sorry bit much help !


Return to Home Improvements