LTV Query

B

boe

Registered User
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104
Hi All,

I have a query regarding LTV. I'm coming off a Fixed Rate with AIB in 2 months time and have been looking at the rates available. Their Standard Variable rate is now discontinuted and what's available for those who don't want to Fix is 3 different LTV rates:

LTV Variable< =50% 2.59%
LTV Variable > 50% < =80% 2.79%
LTV Variable >80% 2.99%

What I'm wondering is how is the LTV rate calculated. Is it (Amount Borrowed/Value) * 100 or is it (Loan Amount Outstanding/Value)*100.
I'm asking because if its the latter then it might be worth my while to pay a lump sum of about €5k off the mortgage in order to get the rate of 2.79%.

The value is what I paid for the house rather than what its currently worth I also presume.

Thanks
 
the value is what it is worth Now.
You will need to get a new valuation done on the property to assess this.
I could recommend a valuer in your area if you require.
cost around 150.00
and the ltv is calculated with todays value and todays outstanding amount.
 
Say if you got an 80% LTV mortgage a few years ago and the current LTV by market value is way higher now with falling prices. Without a valuation given to the bank is the LTV of the mortgage on their records still 80%? I would assume so...
 
corklad said:
Say if you got an 80% LTV mortgage a few years ago and the current LTV by market value is way higher now with falling prices. Without a valuation given to the bank is the LTV of the mortgage on their records still 80%? I would assume so...
Click to expand...

For the moment, but as the banks get more strapped for cash...
 
Some interesting replies, will give them a ring to see wat I need to do regarding the current valuation. Thanks
 
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