There are a number of high street mortgage lenders offering large mortgage loans at fantastically low rates.
The Funding for Lending Scheme has really helped to drive down the cost of borrowing and it is a buyer's market.
If you are looking to raise £1 million to purchase a property, Trinity Financial has access to a lender offering a two-year fix at 1.66%. The overall cost for comparison is 3.8% APR.
The monthly repayments on an interest-only basis would be £1,383 and £4,074 on full capital repayment over a 25-year term. The mortgage has a £995 arrangement fee, and you would need to put down a 40% deposit.
NatWest for Intermediaries is also offering a leading five-year fix at 1.89% and it is available for larger mortgage loans. The overall cost for comparison is 3.3% APR.
If you were to borrow £1 million, the monthly repayments would have to be taken on a capital repayment basis and the monthly costs would be £4,185 on a 25-year term. This mortgage is available on interest-only, and borrowers would need a 40% deposit to access the rate.
Both mortgages will revert to NatWest's standard variable rate, which is currently 3.99%.
For help to secure a large mortgage loan call Trinity on 020 7016 0790.