Woolwich targeting million pound plus mortgages

by Aaron Strutt

Jan 27 2014

Woolwich for Intermediaries' is offering one the lowest large loan two-year fixed rate mortgages at 1.75%. It is available for loans between £500,000 and £2 million and borrowers will need a 35% deposit to access this rate.

It has a £1,999 arrangement fee and after the fixed rate the mortgage reverts to a Bank of England base rate track plus 3.39%. The APR is 3.6%.

Aaron Strutt, product manager at Trinity Financial, says: “More of the high-street lenders are offering large mortgage loans, although they don't tend to be as keenly priced as this deal.

“If you would like to borrow £1 million you would need to earn approximately £220,000 each year. However, if your credit score is particularly good, you may not need to earn quite so much.”

If you would like help to secure a large mortgage loan, call us on 020 7016 0790.

January 27, 2014