Mortgage top-ups made easy...
Loan to Value (LTV) means the proportion of your house for which you have a loan outstanding for.
Example: Your current Mortgage is €200,000 and your house is worth €500,000. Therefore, you have €300,000 equity in your home and the LTV is 40%.
When assessing risk, lenders like to see LTVs that are as low as possible. As an existing homeowner you may have a low LTV on your property. This could allow you to top up your mortgage. Referring back to the example above, if you released equity of €100,000 your LTV would still remain quite low at 60%.
As a rule, lenders are happy to allow you to top up/release equity but you must also of course be able to show a capacity to repay the loan. We would be happy to guide you through the process.
Because lenders generally like mortgage deals with low “LTVs”, at Blue Sky Mortgages we can often negotiate an even better deal than lenders’ advertised rates.
