My partner and I took out a mortgage last year with HSBC for 90% LTV. At the time HSBC had a better rate based on a LTV of 80% but we did not have sufficient funds available to finance this.
A year on and now HSBC have a better rate available fee free for a LTV of 85%.
My question is how will HSBC determine my current LTV on the property? Will they require a valuation or will they do a desktop calculation? If it is a desktop calculation will they look at the purchase price of my house and increase/decrease with respect to a relevant property index?
I am hoping that as we have paid off some capital and we have savings that we can use too, we will be able to qualify for the 85% LTV rate.
Thanks
A year on and now HSBC have a better rate available fee free for a LTV of 85%.
My question is how will HSBC determine my current LTV on the property? Will they require a valuation or will they do a desktop calculation? If it is a desktop calculation will they look at the purchase price of my house and increase/decrease with respect to a relevant property index?
I am hoping that as we have paid off some capital and we have savings that we can use too, we will be able to qualify for the 85% LTV rate.
Thanks