subject: Million Pound Mortgages From Enness Private Clients [print this page] Arranging a million pound mortgage is not as easy as it used to be as lenders focus more on smaller loans to reduce risk and improve profitability.
Pressure on interest only mortgages, restrictive income multiples and many lenders only using small portions of bonus, commission and dividend payments also adds to the difficulty.
Some Examples:
The Lloyds Banking Group (which includes Halifax, Lloyds TSB and Cheltenham and Gloucecter) only offer Interest only up to 500,000.
Nationwide only offer Million pound mortgages at 60% loan to value
Natwest and Royal Bank of Scotland typically only accept 25% of an annual bonus into their affordability calculations
Santander's best mortgage products are usually available up to 550,000
HSBC & First Direct usually only offer mortgages up to 3.5% annual income, meaning you will need to earn nearly 300,000 to borrow one million!
How Can Enness Private Clients Help With Your Million Pound Mortgage?
We work with every high street lender and more importantly a large number of private and international lenders who are much more adept at handling million pound mortgages. These lenders are normally hard to access, do not appear in best buy tables or on comparison websites and many will offer additional premium services such as wealth management or private banking.
Our expert advisers will quickly establish whether this route is available to you and advise you of typical terms and the application process (which is a more civilized experience involving coffee and biscuits instead of a computer screen!)
What Kind Of Products Are Available?
Tracker rates from 1.69% over base
Loan to values up to 85%
Up to 5.5X annual income, including bonus and commissions in some circumstances
Decisions based on one year's trading / accounts, net profit or retained profit in some circumstances
Million Pound Mortgages From Enness Private Clients
By: Rubel Zaman
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