Question about UB's Terms & Conditions.

[murphaph]

Question about UB's Terms & Conditions.

Hi all,
I would like to be able to top-up my existing mortgage with UB to buy an apartment in Germany a year or so after I move there. I'm not quite clear what they mean by this though:

In general applications will be accepted for top-ups where the LTV is less than 80%. Where the loan is for a second property, the total LTV against both properties should be less than 80% and the Bank may require security against both. Where the loan is for a foreign property against which the Bank cannot take security, the LTV should be less than 50% of the property valuation.

Say my property here is worth 250,000 (owing 70,000 at the time of top-up) and I want to buy an apartment for 150,000, can I do this? What do they mean by 50% of the second property? They're not saying I could only borrow an additional 75,000, are they???

 

[murphaph]

On reading it again, I'm assuming it's 50% of the value of both properties, i.e. the one here and the foreign one.