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Mortgages and a 65% LTV
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If you are borrowing 65% or less of your LTV rate for a mortgage, do lenders still take your debts into account?
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No, its not that starightforward.
many lenders these days opt for an affordability test, in which case net disposable income (taking other debts and income into consideration) is a core issue.
many otehrs dispense with stringent checks on expenditure at lower LTV's
Your best bet is to speak with a quality mortgage broker. Contrary to some opinion, you will get the best deal this way.
many lenders these days opt for an affordability test, in which case net disposable income (taking other debts and income into consideration) is a core issue.
many otehrs dispense with stringent checks on expenditure at lower LTV's
Your best bet is to speak with a quality mortgage broker. Contrary to some opinion, you will get the best deal this way.
OFFICIALLY you can only be given a mortgage on an affordability basis. Yes the checks may be less stringent if you take a lower LTV but the lemder will still take a credit check - which will show them your debts. They are always taken into account. As norlo says a mortgage broker really is the best place to go. Even if they charge a fee - it will pay for itself.
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