What does 'LTV' mean?

Chapter 17: The Property Buying Process in Theory

"...How important your credit score is also depends on how much of the property's value you want to borrow. This ratio is known to lenders as Loan To Value (LTV). As an example if the property is worth £100,000 and you want to borrow £95,000 your LTV is 95%. In the lenders eyes that's risky business. You are only putting in five percent and you want them to stump up the rest. In this situation you may have to provide much more proof of your financial stability than a buyer who is prepared to go halves with the lender. ..."

"...If your LTV is very low, say twenty percent, the lender may agree to secure a mortgage on the property without even looking at it. In their opinion most of the risk is with you and the chances of you paying so much for a property that it is not even worth twenty percent of what you lay out are extremely unlikely. If your LTV is high (usually more than fifty percent LTV) they will organise a survey. ..."

"... the lender needs (such as bank statements) which take time to request You have not been in the country long enough to have an adequate credit history (usually three years are required, but again it depends on your LTV) You do not have the right to remain in the country forever The surveyor..."