High street lenders offering mortgages up to £10,000,000

by Aaron Strutt

Jul 20 2017

High street mortgage lenders are increasingly targeting wealthier clients traditionally used to dealing with the private banks.

Many of the mainstream banks and building societies offer £1,000,000+ mortgages as standard, while some are providing up to £10,000,000.

Barclays recently increased its maximum loan from £5,000,000 to £10,000,000 and NatWest for Intermediaries offers its lowest two-year fixed rate for mortgages up to £10,000,000. 

Both lenders offer interest-only, so providing clients have sufficient equity in their property, it could be possible to pay under £10,000 each month to secure £10,000,000. This reduces to £4,958 on a £5,000,000 mortgage. Even £1,000,000 is £992 on interest-only through NatWest.

Aaron Strutt, product director at Trinity Financial, says: “If you are looking for a large mortgage loan and you approach a private bank, there is a good chance you will have to provide assets for them to manage or pay a percent based arrangement fee. This is unlikely to happen with a high street lender.

“Providing you have a sufficient income and the property values up, it is possible to secure rates at just over 1% for mortgages well over £1,000,000.”

Maximum loan sizes

+ Many of the lenders do not state the actual maximum loan size and they can be increased by negotiation.

To secure a £1,000,000+ mortgage call Trinity Financial on 020 7016 0790.