Large loans

If you are looking for a mortgage of £500,000 or above, you might want to deal with a lender which has a dedicated large loans team, or speak to a broker who specialises in bigger homeloans.

The best advisers understand that larger loan applicants are often business people with more complex needs and financial arrangements, and can individually underwrite each case efficiently.

While in the US, so-called 'jumbo loans' are traditionally more expensive than smaller mortgages, in the UK there is generally no difference in the interest rates charged.

Speak to a fee-free adviser for more information.


West Brom doubles its maximum loan size to £1m

The West Brom building society has announced it is increasing its maximum loan size from £500,000 to £1m for loans up to 75% loan-to-value (LTV).


Large mortgage broker firm launches with fees of over 1%

An insurance firm has launched a mortgage advice service ‘Unusual Mortgages' for borrowers looking for a large mortgage loan which it claims will beat the competition on fees.


Call to waive income cap for wealthy borrowers

The British Bankers' Association (BBA)wants High Net Worth (HNW) clients to be excluded from the four-and-a-half times income.


Accord introduces large-loan income multiple cap

Accord becomes the latest large lender to cap large loans following June's Financial Stability Report in which Mark Carney announced a cap on high loan to income lending (LTI).


NatWest introduces income multiple cap on large mortgages

NatWest is to follow Lloyds Bank by introducing a four times loan-to-income cap and maximum term of 30 years for all mortgage loans worth more than £500,000.

Danny Alexander

Lib Dems plan new tax band for £2m+ properties

A leading Liberal Democrat has outlined plans to implement additional council tax bands for properties worth over £2m.


Santander increases high LTV loan limits

Santander has increased the maximum lending caps on its higher Loan to Value loans.

per cent rate

Barclays launches 1.79% fix for larger loans

Barclays is poised to launch its lower-ever fixed rate mortgage for loans of £500,000+.


Prime property purchasers prioritise porcelain

79% of those buying ‘prime’ property say the number of bathrooms is key, with a minimum of three preferred.


Quarter of house buyers paid over £250,000

One in four house buyers and 60% of Londoners last year bought a property for more than £250,000, according to Halifax researchers.


Record high for bridging loans in October

A trade body reported monthly lending in the bridging sector passed £30m for the first time in October, but over 90% of loans were unregulated during the month.

Short-term economic outlook remains 'confusing'

Housing market recovery seven years off

The UK housing market will not fully recover to pre-crash levels until 2019, according to a report released by Knight Frank.


Sales of top-end London property slump

In Greater London, sales of multi-million pound homes have decreased by 53% as the effects of new tax legislation takes hold.


Cable: rich face property tax raid 'within weeks'

The business secretary Vince Cable has said that the country's rich face a further coalition tax raid 'in the next few weeks'.

A welcome mat in front of a door

1m have bought first home since credit crunch

One million households have become first-time buyers since the onset of the economic downturn, accounting for 1 in 10 mortgage borrowers.

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Guide to mortgage insurance

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Guide to Mortgage Payment Protection Insurance

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