Loan to value: the one number every lender starts with

Loan to value, or LTV, is the loan as a share of the price. Buy a $360,000 home with a $36,000 deposit and you borrow $324,000: an LTV of 90%.

Lenders group their deals in bands: 60%, 75%, 80%, 85%, 90% and 95%. The lower your band, the more lenders lend in it, and each band has its own rules.

Moving from one band to the next can take a smaller change in deposit than people expect. Before you make an offer, it is worth checking how close you are to the line. General information, not advice.