Large mortgage loans

House prices in and around major UK cities like London are astronomical. So a broker specialising in large mortgages is essential to helping you buy competitively.

That’s because High Street lenders scrutinise applications for large property purchases with utmost care. And so they should. But this means they can restrict the LTV for mortgages greater than £500,000. Some won’t even lend above one million at all.

Tales from the riverbank

Based, as we are, in Pinner and Watford, we continually deal with many high-net-worth clients. They’re feeding back to us that standard lending limits just don’t go high enough.

For the type of property they want to buy, they need access to much larger loans. This is especially true of those clients wanting to buy or invest in property in or around:

• London
• Manchester
• Birmingham
• Edinburgh
• Bristol
• Other desirable locations in the green belt, suburbs or rural communities.

Unfortunately, since the credit crunch in 2007, banks haven’t made it easy. Many high street lenders have veered away from larger mortgage loans.

The few that still offer them have limited underwriting expertise. Their ineptitude results in considerable paperwork and long delays. So finding the right mortgage provider for your enquiry can often seem an insurmountable hurdle.

Who offers larger mortgages these days?

Don’t let the fact that you’ve had one or two lenders turn you down stop you. Every lender’s risk profile is different, which gets stricter the more you want to borrow. And the higher the risk, the less likely you are to find help in your local branch.

But there are mortgage lenders that specialise in large loans. And we have long-established contacts and relationships with their underwriting teams.

Our expert advisors will leverage those relationships and deal with them on your behalf when you want to buy a large property. To get the ball rolling, submit your enquiry or call us on 0208 421 7998.

Large mortgage loans for limited company directors

Directors of limited companies can often struggle to secure large mortgage loans. That’s because many lenders can only assess their affordability based on salary and dividends physically drawn.

Unqualified advisors often ignore retained and net profits of a business. This could be because of their lender’s attitude to risk. Or it can be because their affordability assessment is so inflexible it only works with employees and SA302 self-employed.

The result restricts directors’ potential borrowing capacity, giving them a real headache. And all because an advisor doesn’t realise the director retains profits in their business for tax planning purposes.

But because we work so closely with lenders, we have access to bespoke underwriting. That means directors can access mortgages through our network that reflect their income.

Our lenders assess a director’s earnings based on salary and share of net profit. Clydesdale and Bank of Ireland are typical subscribers to this more open view of lending.

How can Mortgage Quest help with larger mortgages?

Founded in 2004, Mortgage Quest is an independent mortgage brokerage. The team has strong relationships with all the major UK mortgage providers’ underwriters. This includes specialist lenders and private banks that have no High Street presence.

Our advisors have a proven track record in securing mortgage loans of over £1m. We’ll invest our time getting to know you and your personal and financial situations first.

We go this extra mile to build the strongest case possible to secure the large mortgage loan you need. Dealing with these lenders daily, we know which to approach to give you the best possible outcome.

To find out how we can help with your larger mortgage, call us on 0208 421 7998 or enquire now.