What does LTV mean?

LTV stands for "loan-to-value".

LTV is the amount that your loan (the mortgage) makes up compared to the total price (value) of the house you want to buy. For example, if you wanted to buy a house worth €100,000 and you had a 20% deposit, that means you'd need your mortgage to cover the other 80% of the price of the house. So your LTV would be 80%.

Generally, having a lower LTV means you'll have a few more options and better interest rates than having a higher LTV.

As you pay off your mortgage, your LTV goes down. So when it's time to remortgage, your LTV will usually be lower than when you first purchased..