Gelled, the ltv is based on the valuation done before the property is bought, and the price paid.
Rameire,
Can you explain this further 'the ltv is based on the valuation done before the property is bought, and the price paid'.
So if a mortage was taken out in 2005 for 200,000 and in 2012 the amount left to pay on it is 170,000 are you saying that the LTV would be 170,000/200,000 = 0.85 or 85%?
And the fact that the house was worth 230,000 in 2005 and is only worth 150,000 now doesn't come into play at all in calculating LTV?
Thanks!
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?