A apple1 Registered User Messages 313 11 Oct 2006 #1 Hi, Appreciate if anyone can advise how LTV is calculated for sel-build. Depending on how this is done, we may qualify for a more attractive rate given savings, build cost etc. Thanks, apple1
Hi, Appreciate if anyone can advise how LTV is calculated for sel-build. Depending on how this is done, we may qualify for a more attractive rate given savings, build cost etc. Thanks, apple1
T techman Registered User Messages 307 11 Oct 2006 #2 I assume it's the loan as a percentage of the market value of the home on completion.
M Molly Registered User Messages 432 11 Oct 2006 #3 yes it is based on the value on completion as per valuers report.
P polaris Registered User Messages 173 11 Oct 2006 #4 Your bank will look for the projected value of the completed house from an engineer or auctioneer
M Mark Purcell Registered User Messages 11 12 Oct 2006 #6 Hi, LTV on self builds are calculated as a % of the loan versus the value of the property on completion for interest rate purposes.
Hi, LTV on self builds are calculated as a % of the loan versus the value of the property on completion for interest rate purposes.
A apple1 Registered User Messages 313 12 Oct 2006 #7 Mark, Is it the engineer/architect who values the final property for the banks, an independent valuer or the banks appointed person? Thanks.
Mark, Is it the engineer/architect who values the final property for the banks, an independent valuer or the banks appointed person? Thanks.