In the UK, very few of the easily accessible high street lenders have an appetite for high-value mortgages. Many have historically capped their lending at around the \u00a31 million mark. While we\u2019ve seen this increase in recent years, the fact remains that mainstream banks usually aren\u2019t the best route for wealthy individuals \u2013 particularly those who have some complexity to their situation.<\/p>\n
On occasion, a specialist private bank is the only solution \u2013 as we proved for this client, seeking to purchase a \u00a33 million property in London with minimal deposit.<\/p>\n
<\/p>\n
The client was a UK national, hoping to purchase a beautiful five-bed residential property in London. However, his current home had yet to sell, meaning he couldn\u2019t access the funds he needed at that time.<\/p>\n
One way he would<\/em> be able to proceed with the sale was by securing a high loan to value (LTV) mortgage with a very small deposit. By taking out such a mortgage on a short fixed term period \u2013 say, two years \u2013 the client would then be able to pay down a large chunk of the loan and significantly reduce the LTV once his old property had sold.<\/p>\n Unfortunately, arranging high LTV mortgages can be difficult at the best of times \u2013 and when the amount exceeds \u00a32 million, it becomes even more tricky. He was also keen to secure this on an interest-only basis, to keep the monthly repayments manageable.<\/p>\n We know from experience that this sort of case is best placed with a specialist. So, we set about approaching private banks, and were able to secure terms with a prestigious lender that deals exclusively with wealthy clients \u2013 and will often only work on cases presented via a broker.<\/p>\n With this lender, we were able to secure a two-year fixed term rate at 95% LTV, on an interest-only repayment basis. This is a great example of how access to a private lender can help you achieve mortgage terms that simply wouldn\u2019t be possible with a mainstream bank.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" In the UK, very few of the easily accessible high street lenders have an appetite for high-value mortgages. Many have historically capped their lending at around the \u00a31 million mark. While we\u2019ve seen this increase in recent years, the fact remains that mainstream banks usually aren\u2019t the best route for wealthy individuals \u2013 particularly those […]<\/p>\n","protected":false},"author":1,"featured_media":14602,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[70],"tags":[],"class_list":["post-14601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-studies"],"acf":[],"jetpack_featured_media_url":"https:\/\/backup.articusfinance.com\/wp-content\/uploads\/2023\/01\/high loan to value property.jpg","_links":{"self":[{"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/posts\/14601","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/comments?post=14601"}],"version-history":[{"count":1,"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/posts\/14601\/revisions"}],"predecessor-version":[{"id":20999,"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/posts\/14601\/revisions\/20999"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/media\/14602"}],"wp:attachment":[{"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/media?parent=14601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/categories?post=14601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/backup.articusfinance.com\/ch\/wp-json\/wp\/v2\/tags?post=14601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nThe solution:<\/strong><\/span><\/h2>\n
\nThe case in brief:<\/strong><\/span><\/h2>\n\n