Loan to Value (LTV) Rate Change

What to consider before opting to move to a lower LTV Rate.

Before you can move to a lower LTV rate, you may need to give us with an up to date valuation report. There are three points you should be aware of:

  • you are responsible for arranging the valuation report and for the cost. The initial valuation will cost to you of €150 and €65 for any valuations needed thereafter.
  • the valuation report must be dated within the past six months.
  • the valuation report must be completed by an approved Valuer from the Haven Residential Mortgage Valuer's Panel.

You won’t need to provide a Valuation report if you:

  • choose an LTV interest rate based on an LTV band that has previously been applied to your mortgage loan, or;
  • choose a >80% LTV band

LTV interest rates are not available at the drawdown of a new top up loan although Haven reserves the right to review and/or amend this eligibility criteria from time to time.

To confirm if you are eligible to move to a lower LTV rate, or if a valuation report is required please contact your mortgage Broker or our Customer Service Team on 0818 565 500

Before ordering a valuation report Haven recommends that you check the Property Price Register and or DAFT to help you understand what similar houses in your area have been sold for recently.

How to calculate your Loan to Value:

Divide your total outstanding mortgage loan balance by the value of your property for example (€280,000 ÷ €350,000) x 100 = 80% LTV. Your mortgage loan balance should take into consideration any top up loans or arrears that you may have.

If you want to apply for an LTV rate you will need to complete the Home Loan Interest Rate application form and send it to Haven’s registered office at 10 Molesworth Street, Dublin 2, D02 R126.