- How do SoSmart Money make their money?
- Which products can I compare with SoSmart Money?
- Who are SoSmart Money?
- Will I be contacted by other companies?
High LTV Remortgages
Remortgaging when your mortgage is still a high percentage of your home's value…
LTV stands forLoan To Valueand it is one way that lenders measure the risk of mortgage lending. Your loan to value ratio is the amount you want to borrow, expressed as a percentage of your home's current market value. So the LTV is related to three things:
- The deposit you put down before you took out a mortgage
- The amount of capital (as opposed to monthly interest) that you have repaid on your mortgage so far
- The amount that your home has risen or fallen in market value
So a person who put down a 15% deposit, has a repayment mortgage which they've been meeting or exceeding monthly payments on for several years, and whose home has risen in value, will have a much higher LTV than someone who bought their home with a lower deposit, took out an interest-only loan, bought within the last couple of years, or whose home has fallen in value.
Mortgage LTV limits
The unmistakeable trend in the mortgage market has been for banks to lend to people with a relatively low level of borrowing against their property's value.
Not long ago, you could routinely re-mortgage above 90% LTV. During 2007-2008, lenders retreated and began to offer remortgages only under 85%. Until recently, most of the best remortgage deals have only been available to those with loan to value ratios of under 60%.
Now that is changing. Although 75% is a typical ceiling for chart-topping rates, there are some lenders who are discreetly offering 90% LTV re-mortgages, but only to existing customers at the moment. If your lender isn't doing that, what are your options.
Remortgages above 80% LTV
There are a variety of lenders who still cater for the high loan-to-value remortgage borrower:
You're best off speaking to an impartial mortgage adviser to get access to whole-of-market comparisons and valuable advice.
Getting a high-LTV remortgage
To speak to an impartial re-mortgage adviser, who can ease your path to getting that high-LTV remortgage deal and help you with any necessary comparisons, click hereto get a prompt call back with expert advice from an FSA authorised firm.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Speak to an adviser
Our trained expert advisers have access to the UK’s leading lenders and using their knowledge and skills will place you with the most suitable leader and product for your needs.
01244 264 866
How can we help you?
So Smart Money are specialists when it comes to mortgage and insurance. We have access to the UK’s leading brokers and using their knowledge and skills they'll place you with the most suitable lender and product for your needs.
Speak to an expert for mortgage advice, life insurance cover, to protect your income, insurance your home or contents and private medical cover.
"Matthew at So Smart found me the best deal for my first Mortgage, he was extremely helpful! I would highly recommend this company!"
"I've been looking to switch mortgages recently to secure a better rate and the guys at So Smart Money helped me do just that."
"My mortgage enquiry was dealt with swiftly and professionally. I would highly recommend So Smart Money to others."
"I've used sosmartmoney a couple of times now, I checked my old mortgage with them and it encouraged me to get a better deal."
Winner of AI Finance awards 2015 for:
Best personal finance comparison site &
Best online price comparison platform
