As the housing market soars, property prices in major cities like London are skyrocketing. To secure your dream home, you might be eyeing a larger mortgage.
However, traditional lenders usually cap mortgages at £1 million, as large-scale lending carries greater risks. Imagine borrowing £1 million; if you default, the lender risks losing the entire amount. But lending £1 million to five borrowers means only risking £200,000.
When seeking a substantial mortgage for your dream property, turn to specialist lenders and private banks accustomed to these sums. Building a compelling case is crucial. They evaluate your income, creditworthiness, and deposit size.
While you might typically borrow up to 4/5 times your income, securing a large-scale loan may require more. Specialist lenders sometimes offer flexibility for high earners, extending loans to 6/7 times income.
Remember, a bigger deposit can lower risks associated with a larger loan.
If you're ready to embark on your journey to securing a substantial mortgage, get in touch with us. Our specialist advisors will find the right lender, best rates, and assist in crafting a compelling case for your dream mortgage. 📈🤝
This Is An Information Only Website. We do not Offer Financial Advice But Do Set Appointments For You To speak To A Financial Adviser Should You Wish To Do So.
Copyright © 2023 INFO4MORTGAGE - All Rights Reserved.
Powered by GoDaddy