Switching Mortgage

km79

Finally out of NE and may be close to getting under 90% LTV (getting valuation Friday and it will be touch and go I think)
Now I had thought that getting under 90% was the magic figure to allow me to switch BUT having looked at a few other banks websites it appears it's 80% ?????? if that's the case I may as well forget about it !
Currently with Ulster Bank and their lovely 4.3% VR. Again I'll get no reduction it seems from them until we get below 80%.
if that's the case we may as well just take one of their 2\3 year fixed rates cos we won't be anywhere near under 80% for a good while !
So anyone shed any light on switching with just under 90% LTV ? is it a no go with all banks ?

dar100

4.3 is still very high. There is a new lender due to come into the market soon, Frank Money, should have much lower rates. However, 80% is the main number

km79

dar100 wrote: »

4.3 is still very high. There is a new lender due to come into the market soon, Frank Money, should have much lower rates. However, 80% is the main number

Thanks for quick reply
Yes I'm disappointed now . Had thought we may be set free of their high rates
Their 3 year fixed (well it's 3 and a half really till end of December 19) at 3.65% is looking like out best/only option now

Trish56

Hi km79,
You can switch your mortgage and borrow 90% loan to value.
Trish

km79 wrote: »

Thanks for quick reply
Yes I'm disappointed now . Had thought we may be set free of their high rates
Their 3 year fixed (well it's 3 and a half really till end of December 19) at 3.65% is looking like out best/only option now