What Is LTV? LTV, or loan-to-value, is the ratio between the amount borrowed for your mortgage and the value of the property. This ratio is expressed as a percentage. When you get a mortgage or re-mortgage, your lender will arrange a physical or desktop valuation of your home, which will determine how much the property […]
Could a remortgage benefit you? We’ll go through the essentials and help you make an informed decision on whether it could be suitable for you. What Does Re-mortgage Mean? To re-mortgage means to switch from one lender to another getting a new deal in the process, whilst you’re still in the same property. The common […]
What Is an Early Repayment Charge (ERC)? An early repayment charge (ERC) is a penalty your mortgage provider may charge you should you re-mortgage before your introductory deal ends or make overpayments above your allocated allowance (typically 10% of the outstanding balance of that calendar year). ERCs may be a condition of your mortgage, so […]
When you take out a mortgage to buy a property in the UK, the lender assessing your application will look at your credit score. A poor or even fair credit score could result in the lender declining your application. What’s a Credit Score? A credit score is a 3 digit number that’s scored out of […]
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