Loan-to-value (LTV)
Loan-to-value, or LTV, is the share of the property price financed by the loan: an LTV of 90% means the bank lends 90% of the property's value.
In Luxembourg, the financial sector supervisory commission (CSSF) sets LTV limits that banks must follow. They are higher for a first-time buyer purchasing a main residence, and lower for a buy-to-let investment.
LTV directly determines the down payment needed: the lower the applicable limit, the more the buyer has to fund personally.