60% LTV remortgage deals
If you are looking for a remortgage deal with a relatively low loan-to-value (LTV) such as a 60% LTV remortgage, this can mean that you have more options that those who have less equity in the property.
Homeowners who want to remortgage at sixty percent LTV are often seen as a relatively low risk by mortgage lenders, which can mean a wider choice of remortgage products and the chance to access some of the better rates available.
Choosing a 60% LTV remortgage
It pays to search the market to ensure that you get the best 60% LTV remortgage deal for you. As well as the rate on offer, you will also need to consider the following factors when looking for remortgage rates at 60% LTV:
- Level of flexibility
- Extra costs such as legal fees
- Total cost of monthly repayments
- Any penalty charges that you may incur when switching mortgage providers
If you have 40% equity in your property and are looking to remortgage, you should check the criteria applied buy the lender. When considering a remortgage application, mortgage lenders will look at factors such as:
- How much existing equity do you have? - With 40% equity, your choice of 60% LTV remortgage deals may be fairly varied in comparison to that of someone with lower equity.
- How stable and secure is your source of income?
- Do you have any outstanding debts?
- Do you have any marks on your credit file?
The sheer volume of remortgage products available can make it difficult to keep track of the best deals - using our FREE online remortgage calculator, you can compare the whole of the UK remortgage market in an instant. Use the comparison tool above to compare a selection of 60% LTV remortgage offers with over 5,000 market leading deals.