Loan To Value

Hello,

I wonder if any of you would be kind enough to help me with the following. Having spoken to a friend the other day, he claims I could be eligible for a reduction in my mortgage interst rate as my house has increased in price so much. I cannot find any information about this anywhere so perhaps he is mistaken?

Mortgage remaining - 210,000 with Ulster Bank, UFirst Tracker
House valued at - 328,500

Many thanks for any assistance
PM

The V part of LTV is calculated based on the current valuation of the house not the price you paid for it.
The bank may want to verify the valuation. If the difference is big enough they might just put you straight on to the better rate.

So your friend is correct.

You can check out National Irish Bank's LTV product here for more information:
[broken link removed]

pmurphy

see here [broken link removed]

your loan to value is approx 64%, this means you could avail of 0.75% above ECB instread if 1.15% (assuming original margin when mortgage taken out)

contact your local branch and they may ask for an up to date valuation

regards
DeirdreL

www.rea.ie

throw a few more quid off the capital to get it down to 50% and NIB have a ecb + 0.5%