LTV Calculator - First Choice Finance

You can find out your LTV at any mortgage or loan amount for free in 30 seconds. Use the First Choice Finance loan to value ratio calculator to find out what your LTV is now or will become. To use our LTV calculator in the top left £ box put the total amount you require to borrow. So if remortgaging for an extra £10,000 and you currently have a mortgage of £120,000 then put £130,000 in that top left box. If buying a property and you need to raise £140,000 as a mortgage to add to your deposit to meet the required price, then put £140,000 in the top left box. We are now half way to getting your Loan To Value (LTV). Next if you are remortgaging into the bottom left £ box insert what your home is worth, as if it was to be sold today or, if you are buying a property, insert the actual total purchase price of your proposed new home Click the orange calculate LTV and our calculator will show your LTV in orange to the left of the house image. Change the figures and re-calculate at your leisure. Mortgage and remortgage rates are highly dependent on the LTV you wish to borrow at, basically the lower your loan to value the better - however lenders are now competing for the higher LTV space and the good news is competition drives rates down.

Plenty of people type into their search engines `What is LTV?` or `What is loan to value`. That is not surprising as since we were established in 1988, it has always represented a critical component of establishing which mortgage or home owner loan products are available to you. It is therefore a common question asked by our (and any other) mortgage advisers. You can now use your LTV to find your next mortgage or remortgage through our 25 years of helping consumers from all backgrounds get the mortgages they require. First Choice Finance have a large range of mortgage, remortgage and buy to let loan plans to suit a variety of different loan to value`s (LTV`s), with in house mortgage advisers our first step is to provide you with a confidential, no obligation free personalised quotation . To see what your payments would be either fill in our short no obligation on line enquiry form or call to get the facts and figures for your scenario, without any commitment, from a land line for free on 0800 298 3000 alternatively on a mobile dial us on 0333 003 1505 (mobile friendly number) and your adviser will talk through our best deals for your LTV.

Example Rates By Loan To Value (LTV)

Loan To Value Up To 70% : 1.59% Initial Rate
Loan To Value Up To 80% : 1.79% Initial Rate
Loan to Value Up To 90% : 3.55% Initial Rate
Loan To Value Up To 95% : 4.00% Initial Rate
The overall cost for comparison is 4.9%APR

If you like the look of these figures and choose our team to help, you should be in good hands as we have been finding people across the UK mortgages, remortgages and home loans for 25 years whether they have a high, medium or low loan to value and with good, fair or even poor credit histories. The above rates are initial period rates and are aimed at consumers with a good credit history. If you have been unfortunate enough to have incurred a challenged credit history we still have many plans that may still help, so please simply call or enquire on line and we will do our best to meet your goals.

If your current LTV is below 95% then you could opt for a remortgage to release the difference between your current loan to value and the 95% level and use the funds released for home improvements or even as a consolidation mortgage to get back on top of your finances.

Definition Of LTV And LTV Ratio

High LTV Mortgage Fortunately if you are wondering how to calculate loan to value, that `s straightforward as you can use our loan to value ratio calculator. Alternatively our mortgage advisers will happily work out what your loan to value ratio is from just asking you a few basic questions which you will probably already know the answers to. If you haven `t spotted it yet `L.T.V.` stands for `Loan To Value`. This is the calculation used to give lenders the ratio of the loan or mortgage they give to you compared to the value of the home that you have borrowed the money for or on. The LTV ratio is often expressed as a percentage. So to take a common example if you had a 10% deposit and were looking to buy then you would be looking at 90 LTV Mortgages Knowing this figure is useful for the mortgage lenders because they can see how much security they have, however it is also useful to our customers as the remaining percentage is your share of the equity in the property at its current value.

How To Work Out Loan To Value ratio And LTV

Loan to value is often used in the criteria of many lenders with people with low loan to values finding it easier to find finance as the lenders have more equity on top of their loan to you than in a higher LTV ratio agreement. By the same principle as risk increases rates tend to do the same, therefore if two separate applications are equal in all other ways but one is at a notably higher LTV then it is likely that the higher LTV ratio mortgage or loan applicants would be offered a higher interest rate on their mortgage or homeowner loan. If you are raising additional money on your home for example via a remortgage then your loan to value ratio will change from the current LTV to the proposed or new LTV if you get the loan or mortgage. For your current LTV ratio calculation you need to know your estimated mortgage balance, which you can find on your most recent mortgage statement, together with the value of your house, a great source for this can be local papers to see what houses are selling for or perhaps from somebody who recently bought or sold a house similar to yours near to your area. You then divide the current mortgage balance by the property value. If you are raising extra money through a remortgage your proposed or new LTV would be calculated by taking the new total loan, mortgage or remortgage amount to be borrowed and dividing that by the current property value.

Loan To Value Ratio Calculator Example

We have hopefully now established the formula for calculating your loan to value is not too complex.

LTV Ratio Percentage = (Current Mortgage Balance / Property Value) x 100.

For example, your home is worth an estimated £160,000 and you have a current mortgage on it with a balance at £90,000. Your current loan to value ratio is 90,000 : 160,000 which is 0.526. To make that into a percentage you multiply by 100 to give you 52.6%. This is actually a low loan to value position for the home owner to be in.

Now if the same home owners wanted to raise an additional £20000 then by using the loan to value calculator we can work out what the new LTV is, (90,000 + 20,000) / 160,000 which is 0.6875. As a percentage we multiply by 100 again to get 68.75%, this is the loan to value ratio that your lender would be agreeing to go to for you to get the money. As mentioned before you can see how much equity you have left in your property by taking the new loan to value away from 100, so in this case your remaining equity at the current property value would be 100 minus 68.75 = 31.25%.

How Can Loan To Value And LTV Ratio Affect You?

Usually if you have a low loan to value, you will find getting approved for a homeowner loan, mortgage or remortgage easier in addition you may even receive a lower interest rate on your finance. However there are many other factors and as LTV is only one of them and some plans we have access to may go up to 95% LTV don `t worry. Even if you think your LTV is too high we suggest you call or enquire through our on line form to First Choice Finance as we have a selection of loan and mortgage plans to help people with either low loan to value or for those with very little equity in their home, i.e. have or need a high LTV but could still potentially obtain a mortgage.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home

First Choice Finance is a trading style of First Choice Funding Limited of The Old Courtyard, 103 Buxton Road, High Lane, Stockport, Cheshire. SK6 8DX. Copyright protected 2014.

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