Ciara Copeland
Registered User
- Messages
- 2
Hello,
I'm wondering if somebody can advise as I am getting conflicting answers from the banks. Is the value in the 'LTV' calculation based on the market value of the property or on the purchase price?
If, for example I was to purchase a property from a family member at a 10% discount to market value would this be considered at part of the 20% deposit required or would I still need a 20% deposit based on the purchase price?
My understanding was that the CBI requirements were to have a 20% buffer for property price decreases etc.
Thank you in advance
I'm wondering if somebody can advise as I am getting conflicting answers from the banks. Is the value in the 'LTV' calculation based on the market value of the property or on the purchase price?
If, for example I was to purchase a property from a family member at a 10% discount to market value would this be considered at part of the 20% deposit required or would I still need a 20% deposit based on the purchase price?
My understanding was that the CBI requirements were to have a 20% buffer for property price decreases etc.
Thank you in advance