Mortgage Guide
High LTV Mortgages
How High
LTV
mortgages Work
A high
LTV
(Loan to Value) mortgage is a mortgage of between 100% and 130% of the property price
Note that loans over 100% are no longer available due to tighter lending constraints.
Advantages of high LTVmortgages
You would not find a personal unsecured loan at such a cheap rate.
The funds surplus to 100% should cover all home-buying costs.
No Deposit required.
Disadvantages of high
LTV
mortgages
In effect, you are in negative equity from day one and if house prices then go down, your situation will worsen. Could be a problem if you need to sell or move.
The interest rate on high
LTV
loans is considerably higher. With some lenders, a Higher Lending Charge (HLC) could also apply.
Typical high
LTV
mortgages lenders
Very hard to find these days as lenders are reducing their risk exposure. See if there's anything else that will suit you - seek mortgage advice.
High
LTV
mortgages advice
Request mortgage advice about borrowing over 100% of the property value.
Features, advantages and disavantages of specific first time buyer mortgages:
100% Mortgages l Cashback Mortgages l High LTV Mortgages l Graduate Mortgages l Professional Mortgages l Mortgages with Parents l Guarantor Mortgages l Family Offset Mortgages l Mortgages with Friends or Family l Mortgages at University l Rent a Room Mortgages l Affordable Mortgages l Interest only Mortgages l Part Repayment Part Interest Mortgages l Interest-free Start Mortgages l Shared Ownership Mortgages l Poor, Adverse or Poor Credit Mortgages l Key Worker Mortgages l Shared Equity Mortgages
Useful websites:
www.cml.org.uk – council of mortgage lenders.