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Mortgage Market News » £3m interest only mortgage finance at 1.95% above base rate for 10 years

£3m interest only mortgage finance at 1.95% above base rate for 10 years

New 2.45% rate available from largemortgageloans.com – on an interest only basis We have just launched the following rate and wanted to bring it to your attention in case you have clients who require a £3 million+ tracker mortgage at 1.95% above base rate for 10 years. This rate has a limited availability – act now! 2.45% 10 Year Tracker Rate Mortgage Additional criteria Interest rate 1.95% above Bank of England Bank Rate (known as ‘base rate’) currently 0.5% Overall cost for comparison is 2.6% APR¹ representative variable (The actual rate available will dependupon your circumstances. Ask for a personalised illustration.) Available up to 50% Loan to Value ratio Minimum mortgage facility £3 million Lender arrangement fee 0.5% of loan amount A broker fee is payable² Interest only acceptable as long as there is a viable and demonstrable repayment strategy Subject to criteria and status³ Residential Investment Property Finance In addition, if you have clients who require finance for investment properties in London Underground Zones 1 and 2, contact us now as we have access to money at 2% above the lender’s cost of funds. The minimum asset requirement is 20% of the total mortgage facility. Contact us now With our award-winning⁴ team of experienced large mortgage loan brokers and close relationships with over 40 private banks, our Partnership Programme helps introducers place mortgages in excess of £500,000. Our expertise and experience is in creating a tailored solution for your clients, guaranteeing not to cross-sell. We cater for foreign nationals, British expats, UK residents earning in foreign currencies and ‘non-domiciled’ UK residents and we offer an exclusive multi-currency offset facility for international buyers of UK property. If you would like to talk to one of our brokers about placing a large mortgage loan through the Partnership Programme, please call us on 020 7519 4900 or email on info@largemortgageloans.com. We would be delighted to help you. These rates have limited availability – act now! Your home or property may be repossessed if you do not keep up repayments on your mortgage ¹ The overall cost for comparison 2.6% APR representative variable based on a tracker rate of 2.45% for 10 years with lender’s arrangement fees of 0.5% x £3,000,000 (£15,000) and legal and valuation fees of £10,000. The actual rate available will depend on your circumstances. Ask for a personalised illustration. ² Your initial consultation is obligation free. A fee of up to 1% of the mortgage amount is payable, of this 25% is payable on application and the remainder on completion, e.g. on a mortgage of £100,000 the fee would be £1,000 in total of which £250 would be payable on application. The total fee is non-refundable. We may also be paid commission from the lender. ³ These rates may not be available to all customers and may not be suitable for all customers, dependent upon their individual circumstances. The rates quoted may become out of date at short notice and may not be available at the point at which customers enquire about them. This mortgage market news may not contain all the information needed for customers to make a decision and they should seek advice. ⁴ Winner of the British Mortgage Awards category for Large Loans Broker in 2009, 2010 and 2012.

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