There is a huge amount of competition between the high-street mortgage lenders to attract wealthier borrowers and some large mortgage loans are readily available below 2%.
If you are looking to raise £1 million to purchase or remortgage a property, Trinity Financial has access to a lender offering a two-year fix at 1.79%. The monthly repayments on an interest-only basis would be £1,491 and £4,137 on full capital repayment over a 25 year term. This mortgage has a £1,999 arrangement fee and you would need to put down a 35% deposit.
If you are looking for longer term payment security, we have access to a five-year fixed rate at 2.95%. If you were to borrow £1 million, the monthly repayments on an interest-only basis would be £2,458 and £4,716 on full capital repayment over a 25 year term. This mortgage has a £999 arrangement fee and you would need to put down a 40% deposit.
After the fixed rate period the rate increases on both of these mortgages to a Bank of England base rate tracker plus 3.39%, currently 3.89%.
If you would like help to secure a large mortgage loan, call us on 020 7016 0790.
January 13, 2014