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Mortgages - Loan to value?

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    Mortgages - Loan to value?

    Does anyone know how this works?

    I had a pint with someone who says we could get our interest rates reduced as the value of our house has gone up so much?

    I've never heard of this before. Anyone know anything about this at all?

    Many thankings
    Skib


    #2
    Get your house valued and if your LTV (loan to value) is less than the banks figure you get a cheaper rate. For example AIB give you a rate of ECB rate plus .95% if your LTV is less than 60%. Thats a 0.5% better rate or about 50 bucks a month

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      #3


      First bit of advice is never mix the consumption of alcohol with discussions re your personal finances.


      and


      no I dont know how it works but would be interested if someone out there has the low down. the last people to talk to would be the people offering the scheme.
      Anybody who sees a psychiatrist would want their head examined.*&nb sp;Henry Ford

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        #4

        Originally posted by george bush
        Get your house valued and if your LTV (loan to value) is less than the banks figure you get a cheaper rate. For example AIB give you a rate of ECB rate plus .95% if your LTV is less than 60%. Thats a 0.5% better rate or about 50 bucks a month
        Yep. I'm not sure however if you can simply get a fresh valuation and approach your lender stating your LTV has now reduced, so can I have a cheaper mortgage please?

        Perhaps you can? [img]smileys/confused.gif[/img]

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          #5
          likewise Dermot I think it's more about some lenders offering a product designed to lure borrowers away from existing mortgages. Always wary of new products meself, I keep remembering that they're invented for the seller's purposes ( growing sales and profits ) rather than mine. Read the fine print!

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            #6

            Originally posted by Dermot G
            Originally posted by george bush
            Get your house valued and if your LTV (loan to value) is less than the banks figure you get a cheaper rate. For example AIB give you a rate of ECB rate plus .95% if your LTV is less than 60%. Thats a 0.5% better rate or about 50 bucks a month
            Yep. I'm not sure however if you can simply get a fresh valuation and approach your lender stating your LTV has now reduced, so can I have a cheaper mortgage please?

            Perhaps you can? [img]smileys/confused.gif[/img]
            You can..[img]smileys/smile.gif[/img]for AIB anyway

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              #7
              This was the thinking back then. Not one person, in particular the minister for finance or Taoiseach, suggested that it would be prudent to row back on these eternally upwards views and maybe cut your cloth according to its measure.

              Gilmore accused Biffo of ecenomic treason recently and I think it was justified.

              Hello friends in Brussels. Baldy here

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