Common use of Loan-to-Value Ratio Clause in Contracts

Loan-to-Value Ratio. The maximum original loan to value ratio of Loans in the Initial Portfolio is 95 per cent., (excluding any capitalised high loan to value fee, booking fee or valuation fee). Value is determined, in the case of a remortgage, on the basis of the valuer's valuation only and, in the case of a Property which is being purchased, on the lower of the valuer's valuation and the purchase price and, in the case of a Further Advance, on the basis of the valuer's valuation or, where appropriate, according to a methodology which would meet the standards of a Reasonable, Prudent Mortgage Lender and which has been approved by the Director of Group Property and Survey of the Seller (or his successor or predecessors).

Loan-to-Value Ratio. The maximum original loan to value ratio of Loans in the Initial Portfolio is 95 per cent., . (excluding any capitalised high loan to value fee, booking fee or valuation fee). Value is determined, in the case of a remortgage, on the basis of the valuer's valuation only and, in the case of a Property which is being purchased, on the lower of the valuer's valuation and the purchase price and, in the case of a Further Advancefurther advance, on the basis of the valuer's valuation or, where appropriate, according to a methodology which would meet the standards of a Reasonablereasonable, Prudent Mortgage Lender prudent mortgage lender and which has been approved by the Director of Group Property and Survey of the Seller (or his successor or predecessorssuccessor).

Loan-to-Value Ratio. The maximum original loan to value ratio of Loans in the Initial Portfolio is 95 per cent., . (excluding any capitalised high loan to value fee, booking fee or valuation fee). Value is determined, in the case of a remortgage, on the basis of the valuer's valuation only and, in the case of a Property which is being purchased, on the lower of the valuer's valuation and the purchase price and, in the case of a Further Advancefurther advance, on the basis of the valuer's valuation or, where appropriate, according to a methodology which would meet the standards of a Reasonablereasonable, Prudent Mortgage Lender prudent mortgage lender and which has been approved by the Director of Group Property and Survey of the Seller (or his successor successor). _________________________ [1] or predecessors).long lease

Loan-to-Value Ratio. The maximum original loan to value ratio of Loans in the Initial Portfolio is 95 per cent., . (excluding any capitalised high loan to value fee, booking fee or valuation fee). Value is determined, in the case of a remortgage, on the basis of the valuer's valuation only and, in the case of a Property which is being purchased, on the lower of the valuer's valuation and the purchase price and, in the case of a Further Advancefurther advance, on the basis of the valuer's valuation or, where appropriate, according to a methodology which would meet the standards of a Reasonablereasonable, Prudent Mortgage Lender prudent mortgage lender and which has been approved by the Director of Group Property and Survey of the Seller (or his successor successor). ---------------- (1) or predecessors).long lease