View Full Version : Impact of new LTV on Mortgage
Assuming you bought 2 property 2 years ago with 70%LTV and after 2 or 3 rounds of cooling measures, the LTV for 2nd property has now been reduced to 50%.
Questions
When you seek refinancing for your existing 2 property, will the new bank be able to loan you above 50%?
Will your existing bank request you to top up so that they can reduce your LTV to 50%
Assuming you bought 2 property 2 years ago with 70%LTV and after 2 or 3 rounds of cooling measures, the LTV for 2nd property has now been reduced to 50%.
Questions
When you seek refinancing for your existing 2 property, will the new bank be able to loan you above 50%?
Will your existing bank request you to top up so that they can reduce your LTV to 50%
i think they mentioned CM applicable based on otp date..so shouldn't impact refinance
i think they mentioned CM applicable based on otp date..so shouldn't impact refinance
Lets make it simpler for discussion.
1st property (P1) bought with 80%LTV
2nd property (P2) bought with 70%LTV
3rd property (P3) bought with 60%LTV
Now with the cooling measure, for 3rd property onwards, LTV is 40%.
When you do you refinancing, will bank be able to loan you 80, 70, 60%?
Or they will loan you maximum of 40% for all property since you already have 3.
Equity loan is up to 70% only.
Refinance the existing balance, whatever LTV it might be.
Refinance the existing balance, whatever LTV it might be.
Correct.. If u want equity loan, then new Ltv applies which will not make sense then..
That is where it bites.....so long as interest rate stay abnormally low it not bleed
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