Forum menu
Topic starter
Spoke with IFA and asked for some options on moving to a more expensive property
He tells me I can port my existing mortgage and take out another mortgage with the same provider. He provider an illustration on a ltv of 60% this is for the new mortgage, not the new plus the existing ported. I asked surely they take into account the ported mortgage when doing ltv calcs. Ie the ltv is actually new mortgage + ported mortgage vs valuation.
He said no.
Is this right? Am I missing something here? Surely not?
Posted : 07/09/2016 5:50 pm
The LTV calc takes into account the whole total mortgage not just the new part or the old part by itself.
Posted : 07/09/2016 5:58 pm
Topic starter
So I've not got a very well informed IFA then? I did query it, you'd think he'd check?
Posted : 07/09/2016 6:06 pm