In the Times today - 31% of homeowners now have a bad LTV ratio...

[imisswoolies]

Surely that means that 31% of homeowners are going to struggle re-mortgaging when their deals are up?? What will the government do then? They are bailing out banks, what about homeowners??

hmmmm

Anyone in that boat now? on SVR? is that why interest rates low? what happens when they go up?

We're in that position. Had 16% deposit that's now eroded to nothing, bank doesn't have any products available. On one hand the SVR is better than any product that would be available, on the other hand we are totally exposed to the vagaries of the SVR going down - and up - and that's somewhat worrying. We're playing it by ear; not a lot we can do as we don't have a lump sum (I'm talking £10k min) to put into the mortgage.

I'm probably one of hose too.

We're on the variable rate at the mo which isn't too bad as the rates are low but i'm scared for when the rates go up.

But not everyone has to remortgage. As said, you just go straight to SVR when your deal is up which, at the moment, isn't too painful.

we had a 62% ltv but realistically probably noe around 74% which is fine as long as prices dont drop much more although looking on rightmove there are houses for sale on teh same estate as us, all 3 bed and drives and they range from 165k to 185k

I was working our ltv against the lowest rive I found for same house

We have been trying to re-mortgage since the first week of January with an IFA as our fixed rate deal ends at the end of February. We are trying to borrow an extra £3K to buy hubby a second hand car as his has just gone up in smoke! We have had so many problems as the LTV we want to borrow is 76% rather than the safe banks limit of 75% and the companies we have applied to will not stretch the 1%! The thing that really has annoyed us is that the bank and building society Surveyors have valued our house at varying amounts between £175k and £190k but cant tell us what they are basing this on as they are supposed to look at "comparables" ie houses of a similiar size and location that have sold recently but nothing and I mean nothing has sold in our area for months and yet they still wont budge to offer us 1% more. We would quite happily go on to our current lenders SVR as it is cheaper than our current fixed rate but desperately need the extra funds. Will have to think about a personal loan if this doesn't get sorted soon.