If you are buying a large house and you need a mortgage that is therefore larger than the norm, you may find that it is harder to get a mortgage than you expect.
The market for large mortgages for high net worth borrowers is specialised and is rather different from the mainstream market. This is because lenders will often assess your affordability based on assets as well as your income.
For you, when it comes to affordability, your spending commitment and levels of debt are therefore less likely to be affected by movements in mortgage interest rates.
As a high net worth individual, you may take out a mortgage for reasons that are less likely to apply to mainstream customers. For example, you may need to take out a large mortgage to fund a business. Therefore, because you may have specific requirements or more complex financial circumstances, some high street lenders don’t always offer the complete solution or service that you need. Some lenders also consider larger mortgages a greater risk.
However, we offer a tailored approach to your mortgage borrowing. We also deal with a number of lenders who cater specifically in larger loans, so speak to us to find out how we can help you.
There may be a fee for mortgage advice, the precise amount will depend on your circumstances but we estimate that it will be £299. We do not charge a fee for our services for New Build Homes; we receive commission from the provider.