£1 Million Pound Mortgages

Over half a million people in Britain are now ‘Property Millionaires’. A rise of eight per cent since last year, according to property website Zoopla1. In fact there are now 10,958 streets where the average property price is more than £1 million, 43% of them in London. 13 of these London streets have an average property price of more than £10 million.

When taking out a mortgage above £1 million, it becomes more difficult to access a deal via the High Street Banks. A specialist mortgage broker can take a more holistic approach to your lending requirements – possibly utilising assets such as a personal pension, stock portfolio or overseas stock you may hold to your advantage to achieve the best possible lending terms to fit your criteria.

High street banks can frown on using commission or bonuses as part of your income, some High Street Banks will only take a small percentage of this income within their affordability criteria. Private Banks can be more flexible as they typically tailor a mortgage to the customers borrowing circumstances.  A good specialist mortgage broker will likely have access to numerous private bank relationships.

You would benefit from using a mortgage broker in these circumstances since they have access to lenders with an appetite for larger and more complex loans. They are much more confident in dealing with mortgages of higher value than the high street banks.

An independent mortgage broker will endeavour to source the most suitable mortgage to suit your current needs and circumstances. Because they are independent they can give you access to far more products than you could get if you went direct. Since they spend their time looking at available rates from a number of lenders, they are in the best position to access the right lender for your situation.

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Source 1: http://www.zoopla.co.uk/discover/property-news/number-of-property-millio…

largemortgageloans.com is a trading style of largemortgageloans.com Ltd who are authorised and regulated by the Financial Conduct Authority.  largemortgageloans.com Ltd is registered in England and Wales No: 5070990 Registered Address: Bridge House, London Bridge, London, SE1 9QR

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Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Changes in the exchange rate may increase the sterling equivalent of your debt. You may have to pay an early repayment charge to your existing lender if you remortgage. Think carefully before securing any other debts against your home.  

largemortgageloans.com is a trading name of Largemortgageloans.com Ltd, Aegon House, Ground Floor Suite, 13 Lanark Square, London, E14 9QD authorised and regulated by the Financial Conduct Authority (FCA). Our FCA registration number is 302228 and can be viewed by visiting the FCA website: www.fca.org.uk.  The FCA does not regulate tax advice or some aspects of commercial, buy to let, overseas mortgages, bridging finance, finance and asset lending.  

Largemortgageloans.com Limited is registered with the Guernsey Financial Services Commission, reference number: 2269418, as a Non-Regulated Financial Services Business.  

Largemortgageloans.com Ltd Registered in England and Wales No: 5070990 Registered Address: As above. The guidance and advice contained within the website are subject to the UK regulatory regime and is primarily targeted at UK customers. Calls may be recorded for training and monitoring.