Can anyone help me work out the LTV?

[Freshstarting]

First time buyer and I'm absolutely clueless with this stuff. I have looked online but I'm not sure if the calculators are accurate?

House price is £160k
Deposit is £40k
Salary (if relevant) is £27,560 pa

Based on my salary and outgoings they should lend me the amount that I need but how do I work out what the LTV will be?

Thank you!

Calculators say 75%, does that sound right?

You might just about get there but only if you have no other debt/outgoings/dependents. 4-4.5 times income is usually the maximum for most lenders

Your deposit is 25% so your LTV is 75%.

Yes that's right, your deposit is the percentage of the purchase price

Loan is 160k minus 40k ie 120k
Value [of the house] is 160k
therefore loan to value is 120/160 ie 75%

Loan to value is how much of the value of the house will be mortgage.

house value = 160k
deposit = 40k
money you need to borrow (the loan) = 160 - 40 = 120k

loan as a percentage of the house value : 120 / 160 x 100% = 75%

if your house gets downvalued your LTV goes up.

in my experience, the LTV affects the interest rates you get. So lower LTV = better interest rates. The amount you can borrow is more related to your salary and outgoings but can be affected by the LTV because higher LTV leads to higher repayments which can affect your cash flow.

Op it’s really easy you’re taking out a loan for 75 percent of the value, as you’ve 40k deposit, which is a quarter of 160. So you need to borrow the other 75 percent.

however on your salary you are looking to borrow a 4.4 salary multiplier, max is usually 4 to 4.5, so you may hit lucky depending on lender.

Just be careful re value v price. If you pay over valuation your ltv will be higher. It's the actual valuation the bank consider for the mortgage offer rather than the amount you're paying.

You need to factor in moving costs that will take away the amount of money you can use for the deposit.

So:
Stamp duty (if relevant)
Conveyancing fees (searches too)
Mortgage arrangement fees, maybe including a survey
Moving costs (removal van etc)
Parking permits!

Bear in mind any overlap on utilities / rent if you buy before you move out of wherever you are now.
If you rent you hope to get some deposit back, but it takes some time.

Yes it does