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Why Choose Ascot Mortgages
When you’re in the market for a 70% LTV mortgage, it’s crucial to partner with an expert who can guide you through the labyrinth of lenders, interest rates, fees, and repayment options. That’s where Ascot Mortgages comes in.
With years of experience in providing personalised mortgage advice, we at Ascot Mortgages are committed to helping you find the best 70 LTV mortgages to suit your individual needs. From the initial application to the moment you get the keys to your new property, we’ll be with you every step of the way, offering our expert advice to ensure you make the most informed choices.
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A 70% LTV mortgage means that you’ll be borrowing 70% of the property’s value, while putting down a 30% deposit. Here’s a simple breakdown:
So, for a £300,000 property:
– 70% LTV loan = £210,000
– 30% deposit = £90,000
The dynamics of a 70% LTV mortgage are straightforward but involve a few steps:
Here are some compelling reasons why you might opt for a 70% LTV mortgage:
There are various types of interest rates available with 70% LTV mortgages:
Remortgaging is applied when you keep
living in your present property while applying for another mortgage deal with a new lender. Before finding out how to remortgage and get the best offers from experts like Ascot Mortgages, you have to check meeting what parameters of the deal that can help you succeed the most. The range of background factors varies a lot — from the recently changed loan-to-value ratio or your existing agreement coming to an end.
Whether you are trying to get a more beneficial deal or searching for funding to improve your home conditions, remortgaging is one of the most advantageous scenarios to consider.
Making an informed choice when it comes to a 70% LTV mortgage will involve considering your unique circumstances and consulting with an expert like Ascot Mortgages. Always consider the rate, fees, and other terms in the offer. Take your time, compare lenders, and you’ll find the best 70 LTV mortgages tailored for you. Feel free to reach out to Ascot Mortgages; we’re always here to help!
Absolutely! A 70% LTV mortgage can be utilised for remortgaging or refinancing purposes. If you have built up at least 30% equity in your property, you can explore the option of remortgaging at this LTV to potentially secure a better interest rate or to release some equity from your home.
The repayment term for a 70% LTV mortgage typically varies based on the borrower’s age, preference and circumstances. In the UK, standard mortgage terms are generally between 25 to 35 years although with some lenders 40 years. However, shorter or longer terms might be available based on your financial situation, age, and the lender’s criteria. It’s always best to discuss your preferences with a mortgage advisor to find a term that aligns with your financial goals.
Yes, many lenders accept gifted funds as a deposit for a 70% LTV mortgage. However, there are often specific criteria to meet. The person gifting the funds (often a family member) may need to provide a written confirmation that the money is a gift and not a loan, meaning there’s no expectation for the money to be repaid. It’s essential to check with individual lenders about their policies and requirements related to gifted deposits.
The mortgage application process for a 70% LTV mortgage typically takes between 1 to 2 weeks from the initial application to receiving a formal mortgage offer and then between 8 – 12 weeks for legal completion. However, this can vary depending on the lender’s processing times, the complexity of the application, and how promptly you provide the necessary documentation. Working with a mortgage advisor can sometimes expediate the process and provide clarity on expected timeframes.