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How much does a £5 million mortgage cost?

Aaron Strutt Image

Trinity Financial has access to a selection of high street lenders competing with the private banks to provide £4 million and £5 million mortgages to wealthier clients purchasing properties or remortgaging. Click on the link to view our large mortgage loan best buy table or use our borrowing calculators.  

While many lenders cap their maximum loan sizes the high-net-worth lending teams at lenders like HSBC, Barclays and Santander are offering rates priced at just over 1% for large mortgage loans. They have dedicated departments to agree and provide million+ mortgages quickly and efficiently. 

How much does a £5 million mortgage cost? 

If you are looking to raise £5 million to purchase or remortgage a property on an interest-only, part interest-only or full capital repayment basis, Trinity Financial has access to a lender offering a two-year fix at 1.14%. The overall cost for comparison is 3.2% APRC.  

The monthly payments on a 1.14% interest-only mortgage would be £4,750, rising to £16,405 on full capital repayment over a 30-year term. The mortgage has a £999 arrangement fee, and you would need to put down a 40% deposit to qualify.  

Aaron Strutt, product director at Trinity Financial, says: “Even though the lenders have access to cheap funding it is quite incredible there is a selection of lenders able to provide such large loans at just over 1% 

“Many of the providers have set up specialist larger loan teams to manage applications and get them agreed and offered as quickly as possible. They are actively competing with the private banks and have the bonus of charging small arrangement fees and no requirement for assets under management.”     

How much will the five-year fixes cost? 

If you would prefer a five-year fix it is possible to access a 1.29% five-year rate. The monthly repayments on £5 million mortgage would be £5,737 on interest-only or £16,756 on capital repayment over a 30-year term.” 

This mortgage has a £999 arrangement fee, and borrowers need to put down a 40% deposit. The standard variable rate is 3.59%, and the overall cost for comparison is 2.8% APRC. 

Call Trinity Financial on 020 7016 0790 to secure a large mortgage loan or book a consultation 

Trinity Financial specialises in arranging larger mortgage loans and we constantly monitor the market to ensure we know which lenders have the best £1 million+ deals and the lowest arrangement fees.

To ensure that we can secure mortgages for our clients as efficiently as possible we have built relationships with the top lenders to get cases agreed without calling the standard broker phone lines. We go directly to the high net worth lending teams.

It typically takes the mortgage lenders around one or two weeks to produce mortgage offers once they have received all of the information they require to process the application. If you are in a hurry to complete we can approach the lenders with faster turnaround times.

It all comes down to price. The high street mortgage lenders are undercutting the private banks and they are also typically charging cheaper arrangement fees. If you have a relatively straightforward financial situation then you may not need a private bank to access a mortgage.

Once you have contacted one of our consultants by calling 020 7016 0790 or completing our enquiry form we will give you an idea of how much you can borrow and the best rate. 

Based on the information supplied (identification, payslips, accounts, etc) we provide you with illustrations for the most suitable lender for your circumstances. 

We collect the information and documentation that the lenders and providers will need, and submit and manage the application through to completion. We liaise between all involved parties such as valuers, estate agents and solicitors.

Ultimately we will do everything possible to get your mortgage agreed. 

Trinity's brokers have a wealth of experience arranging £1 million+ mortgages. 

Click here to view our case studies

As seen in
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