Ask an Expert
Ask an Expert I have a £400k deposit and want to borrow £1.2 – 1.3m, is this possible?

I have a £400k deposit and want to borrow £1.2 – 1.3m, is this possible?

Q: I have a £400k deposit and want to borrow £1.2 – 1.3m, is this possible?

A:

Yes, if you’re putting £400,000 deposit into a purchase for £1,300,000, then it comprises a deposit of 31% of the price. Because the lending is below £1,000,000, then we could look to both high street lenders and private banks.� Some banks might require you to arrange the loan on a capital & interest (repayment) basis, and others would allow an interest-only facility as long as you have a sound repayment strategy. In the absence of other personal debt, most banks would expect you to have an annual gross incoem of at least £200,000 to £250,000 to qualify for a mortgage of £900,000.

These questions are for information purposes only and do not contain all the details you need to choose a mortgage, ask one of our advisers for a personalised key facts illustration
Return to the Questions archive

This Month’s Top Fixed Rate

Fixed rate
Initial rate: 1.35%

Period: 2 years

Rate will revert to a variable rate, currently 4.99% thereafter
The overall cost for comparison is 4.46%

Get This Rate

This Month’s Top Variable Rate

Variable rate
Initial rate: 0.97%

Period: 2 years

Rate will revert to a variable rate, currently 4.99% thereafter
The overall cost for comparison is 4.37%

Get This Rate

Some of this month's top interest rates are listed above; the actual rate will depend on your circumstances. Please note that this information does not contain all the details you need to choose a mortgage, ask one of our advisers for a personalised key facts illustration on 020 7519 4900. The rate displayed may become out of date at short notice.

Latest Articles/News

Case Studies

Are you looking to remortgage your home? We have the banking contacts to pr…

Latest/Related News

You won’t see it advertising products or be able to walk into a branch on…

Press Release

States proposal to waive document duty on bonds hailed as a victory for mor…

Press Coverage

“Victory” for first time buyers…

LML Brochure

Download our brochure to find out more about Largemortgageloans.com and what we can offer

Click to Download

Sign Up

Subscribe now, to hear from us on the latest mortgage market news, products and services.

Client Testimonials

Close

Live chat with
our team now

Chat

LargeMortgageLoans.com