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Friday May 20, 2011

Property finance solutions from

This case study demonstrates how we arranged a £1.6million mortgage at a ten times income multiple across two residential properties. To discuss this or any other large mortgage case, please contact us.

Case profile

Our client first read about in an article on arranging large and complex mortgage loans in the Sunday Times. He has a portfolio of properties worth approximately £10million, including his main residence, commercial units with flats above and standard residential units for rental. The portfolio has been built up over many years and his taxable income of £160,000 per annum is derived purely from rent.

He wanted to purchase a property in Esher, Surrey worth £1.8million by putting in £800,000 himself and borrowing the remaining £1million. The only other property in his portfolio on which he had a debt was his main residence in Wimbledon, worth £2.5million, which had £600,000 mortgage secured on it. He had been unable to find a competitive rate from High Street banks, who wanted to lend against his entire property portfolio.

The solution’s specialist mortgage brokers knew that a select number of private banks would be interested in the case and soon found a bank willing to offer £1.6million on the basis that £1million would be secured (at 56% LTV) on his second home in Esher and £600,000 (at 24% LTV) on the main residence in Wimbledon.

The loan of £1.6million was ten times his yearly £160,000 income. The private bank was prepared to lend at this multiple because of the low loan to value ratios involved and the fact that the client has several unencumbered properties. What was unusual in this case was the fact that the bank did not want to take security across the whole portfolio, just the two most valuable properties.

Deal highlights

Loan amount: £1.6 million (split across 2 properties)
Rate: Discounted rate of 3.10%¹ (1.40% off standard variable rate of 4.50%)
APR: 3.2%² (the overall cost for comparison)
Term: 17 years
Type: Repayment (‘Interest only’ was also available)
Arrangement fee: 0.5%
Early repayment charges: None

Note that this case study is for information and illustration purposes only. It is not an offer, or suggestion of an offer. Each mortgage case is assessed on an individual basis and there is no guarantee that the solution described here can be repeated in the future.

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This case study shows that it is more important than ever to use the services of a specialist large mortgage loan broker who has access to the wide range of lenders willing to finance high value UK property, someone who searches the entire market to find the mortgage that fits your personal requirements.

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Your home may be repossessed if you do not keep up repayments on your mortgage

¹ Please note that this deal may not be available to – or suitable for – all customers, dependent upon their individual circumstances. The rate quoted may become out of date at short notice and may not be available at the point at which customers enquire about it. This letter may not contain all the information needed for customers to make a decision and they should seek advice.
² APR calculation based on arrangement fees of £8,000 and legal and valuation fees of £5,000. The actual rate available will depend upon your circumstances. Ask for a personalised illustration. is a trading name of Ltd, 12 Pepper Street, London, E14 9QY which is authorised and regulated by the Financial Services Authority. The Financial Services Authority does not regulate some aspects of buy to let mortgages, overseas mortgages and tax advice. Ltd Registered in England and Wales No: 5070990 Registered Address: Bridge House, London Bridge, London, SE1 9QR. Your initial consultation is obligation free. A fee as described below will be charged on application for a mortgage, this fee is non-refundable. We will also be paid by the lender. On mortgages up to £500,000 the fee would be £495. On mortgages over £500,000 up to £1,000,000 the fee would be £995. For mortgages over £1,000,000 and exclusive or semi exclusive schemes the fee would be up to 1% of the loan amount. e.g. on a mortgage of £2,000,000 the fee would be up to £20,000.

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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. is a trading name of 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: The FCA does not regulate tax advice or some aspects of commercial, buy to let, overseas mortgages, bridging finance, finance and asset lending. Ltd is a licensed credit broker, and not a lender. 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.
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