LTV (loan to value)
The ratio of the loan amount to the value of the property, expressed as a percentage. For example, a loan of PLN 400,000 for a flat worth PLN 500,000 means an LTV of 80%. The higher your down payment, the lower the LTV.
The bank calculates LTV from the value it accepts itself, e.g. based on a valuation — this may differ from the price in the agreement. LTV determines whether you get the loan, what margin the bank offers and whether it requires additional security if your down payment is low.