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Halifax is the latest major mortgage lender to announce rate cuts, raising hopes that more banks and building societies will reduce their mortgage rates over the coming days.

Santander and Nationwide Building Society are currently among the most competitively priced lenders, with a growing number of fixed-rate mortgages available below 5% again.

Just a few days ago, it looked as though virtually all sub-5% fixed-rate mortgages would disappear following a succession of increases from the UK's biggest lenders. However, the market has changed direction, and at least six lenders are now offering selected fixed-rate deals below 5%, according to Trinity Financial's latest market review.

The sudden turnaround highlights how quickly mortgage pricing can change and why borrowers should continue monitoring rates, even after receiving a mortgage offer.

Halifax announces new mortgage rate reductions

Halifax has confirmed it will reduce selected two, three and five-year fixed-rate mortgages for first-time buyers and homemovers by up to 0.10 percentage points from Friday 9 October.

The reductions follow Santander's decision to lower selected fixed and tracker mortgage rates on Tuesday 6 October.

Halifax is also offering eligible Lloyds Premier customers a 0.20 percentage point discount on selected standard fixed rates, making some of its mortgages particularly competitive for higher earners.

Based on the rates currently available, eligible Lloyds Premier customers can access:

• Two-year fixed rate around: 4.90%

• Three-year fixed rate around: 4.85%

• Five-year fixed rate around: 4.9%

These rates could become even more attractive following the latest Halifax pricing changes, although the final rates will depend on which mortgage products are reduced.

Eligibility criteria, deposit requirements and product fees apply.

Santander brings back more sub-5% fixed-rate mortgages

Santander has also improved its mortgage pricing, with reductions across selected new business fixed and tracker deals from Tuesday 6 October.

The bank is offering some of the most competitive fixed rates, including:

• Two-year fixed rate around: 4.90%

• Three-year fixed rate around: 4.90%

• Five-year fixed rate around: 4.95%

Santander has also reduced selected tracker rates in its product transfer range, although some existing-customer fixed rates have increased.

Why are mortgage lenders cutting rates again?

Fixed mortgage rates are heavily influenced by wholesale funding costs, particularly swap rates, rather than simply following changes to the Bank of England base rate.

Following the sharp increases in mortgage pricing during September and early October, some lenders are now adjusting selected products to compete for new borrowers.

There is also speculation within the mortgage market that other major banks could announce reductions over the next few days.

While this is encouraging news, it does not necessarily mean mortgage rates will continue falling. Market conditions remain volatile, and banks can increase or reduce their pricing at relatively short notice.

Already have a mortgage offer? You could still secure a cheaper rate

One of the biggest mistakes borrowers can make is assuming that once they have received a mortgage offer, they cannot benefit from any subsequent rate reductions.

In many cases, a mortgage broker can request a lower interest rate from the same lender before the mortgage completes.

For example, a borrower who secured a five-year fixed rate at 5.20% may be able to switch to a newly introduced 4.90% product if their lender reduces its rates and they meet the relevant criteria.

This could save a substantial amount of money over the initial fixed-rate period.

The process varies between lenders, and a new product fee, updated offer or further checks may be required. However, it is worth investigating whenever cheaper rates become available.

Borrowers should also be aware that switching to another lender can involve a new application and additional costs, so the overall saving needs to be considered.

Aaron Strutt, Product Director at Trinity Financial, comments:

"The mortgage market has been incredibly volatile, and it is encouraging to see some of the big lenders reducing rates again.

"Just a few days ago, it looked as though virtually all the sub-5% fixed rates would disappear, but Santander, Halifax and Nationwide Building Society are offering borrowers some much-needed competitive options. NatWest also has some sub-5% mortgage options.

"There are rumours that more of the large banks are preparing to reduce their rates, so hopefully we will see further improvements over the coming days.

"This shows why it is so important to keep monitoring mortgage rates even after an offer has been issued. If a lender introduces a cheaper deal before completion, we can often request the lower rate for our clients.

"Borrowers could potentially save thousands of pounds over their mortgage deal simply because their broker continues monitoring the market."

How Trinity Financial helps borrowers secure competitive mortgage rates

At Trinity Financial, our mortgage brokers monitor mortgage rates across a wide range of banks, building societies and specialist lenders.

Whether you are a first-time buyer, moving home or remortgaging, we can help you compare fixed and tracker mortgages, assess lenders' affordability criteria and identify suitable products.

Importantly, our service does not end when your mortgage offer is issued. We can continue reviewing available mortgage rates before completion and investigate opportunities to switch to a cheaper deal where permitted.

Speak to a Trinity Financial adviser today

The mortgage market moves fast — and the right advice can make a significant difference to the rate and deal you secure. Get in touch with our team to discuss your options.

Call Trinity Financial on 020 7267 9399 to secure a fixed or tracker rate mortgage, book a consultation, or use our appointment calendar

The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage

Are tracker mortgages cheaper than fixed rates? Why borrowers are looking at trackers again

Tracker mortgages are attracting more attention as fixed mortgage rates have risen. They are increasingly popular with homebuyers looking to lower their monthly costs, and with homeowners looking to avoid a repayment shock when they remortgage, even if it is on a variable basis and the rate could rise.  

After a series of fixed-rate increases, some of the UK's biggest mortgage lenders are offering tracker mortgages priced noticeably below their comparable two- and five-year fixed deals. In many cases, tracker mortgage rates are around 0.6 to 1.2 percentage points cheaper than fixed rates, depending on the lender, customer eligibility and mortgage product.

The most competitive tracker mortgages are often available to borrowers with larger deposits or higher levels of equity in their homes, typically because lower loan-to-value mortgages can attract cheaper pricing. Borrowers with a 25%, 40% or larger deposit may therefore find some of the biggest differences between tracker and fixed rates. 

Major lenders currently offering competitively priced tracker mortgages include Barclays, Halifax, NatWest, HSBC and Nationwide. 

For borrowers searching for the cheapest tracker mortgage, a two-year tracker mortgage, or wondering whether a tracker mortgage is better than a fixed mortgage, the pricing difference means trackers are increasingly worth considering, particularly if you don't need the security of a fixed deal, especially in these uncertain times.

How much cheaper are tracker mortgages than fixed rates?

Broadly speaking, some of the cheapest tracker mortgages from major banks are currently priced around 4%, while many competitively priced fixed mortgages are around 5% or higher. This means a £350,000 mortgage at 4% over a 30-year term on full capital repayment could cost £1,670.95 each month, rising to £1,878.88 each month on a 5% fixed rate. This difference is £207.93, and we calculated it using our mortgage calculator. 

Borrowers with larger deposits can often access the cheapest tracker pricing, although rates depend on the lender, loan size, property, income, and overall application. 

Based on current pricing, the approximate differences are:

Source: Trinity Financial. These are approximate comparisons based on mortgage pricing available in early October 2026. The lowest rates often target borrowers with larger deposits or more equity. Mortgage rates and lending criteria can change at short notice. 

This means borrowers could potentially start on a mortgage rate around one percentage point lower by selecting a competitive tracker rather than a fixed rate. However, the savings may well be temporary if the Bank of England base rate rises significantly. 

Any initial saving can become particularly significant on larger mortgages, especially where the borrower also has a sizeable deposit and qualifies for a lender's lowest loan-to-value pricing.

Barclays tracker mortgages

Barclays currently has one of the largest gaps between its tracker and fixed mortgage pricing.

For eligible Barclays Premier customers, its tracker is approximately 1.2 percentage points cheaper than its lowest two-year fixed rate and around 1.1 percentage points cheaper than its five-year fix.

The standard Barclays tracker available to non-Premier customers is still approximately one percentage point cheaper than the bank's lowest fixed rates.

The most competitive pricing will often be available to borrowers with lower loan-to-value mortgages and larger deposits.

Why does a larger deposit often get you a cheaper tracker mortgage?

Mortgage lenders generally price loans according to risk.

A borrower putting down a 35% or 40% deposit, for example, is asking the lender to finance a smaller proportion of the property's value than someone putting down 10%.

This lower loan-to-value can result in access to cheaper mortgage products.

That means borrowers with larger deposits, or homeowners with substantial equity when remortgaging, may be able to access some of the most competitive tracker mortgage rates in the market.

However, the lowest rate is not always the cheapest mortgage overall. Product fees, early repayment charges, valuation costs and the flexibility of the deal should all be taken into account.

Tracker mortgage or fixed mortgage: which is better?

There is no single answer.

A tracker mortgage may appeal to borrowers who:

• Have a larger deposit or substantial equity

• Want a lower initial mortgage rate

• Can afford their payments if interest rates rise

• Want the flexibility to switch mortgage products

• Have savings or surplus monthly income

• Do not want to lock into a fixed rate at current levels

A fixed mortgage may suit borrowers who value certainty and want to know exactly what their mortgage payments will be each month.

Aaron Strutt, Product Director at Trinity Financial, says:

"Tracker mortgages are getting much more attention because the pricing difference compared with fixed rates has become difficult to ignore. Across several of the biggest lenders, trackers are around one percentage point cheaper than comparable fixed rates, and some of the cheapest deals are available to borrowers with larger deposits.

"Borrowers with 25%, 40% or more to put down can sometimes access particularly competitive tracker pricing, which can make a substantial difference to the monthly repayment on a larger mortgage. Trackers are not suitable for everyone, though. Borrowers still need to be comfortable that their mortgage payments could increase if the Bank of England raises Base Rate."

Is now a good time to take a tracker mortgage?

Tracker mortgages are arguably more attractive than they have been for some time because of the unusually wide pricing gap with fixed rates.

With Barclays, Halifax, NatWest, HSBC and Nationwide trackers roughly 0.8 to 1.2 percentage points cheaper than some of their fixed-rate alternatives, they are worth comparing carefully.

Whether a tracker is suitable will depend on the mortgage size, income, deposit, attitude towards risk and ability to cope with higher repayments if Base Rate rises.

Trinity Financial's mortgage brokers can compare tracker and fixed mortgages from Barclays, Halifax, NatWest, HSBC, Nationwide and other banks and building societies to establish which option is most appropriate.

Is the Bank of England base rate likely to rise soon?

Potentially, yes. The Bank of England base rate is likely to rise at least once or twice over the next six months, so trackers seem like a good bet for anyone willing to gamble that the base rate will stay low for some time.  In many cases, the base rate will have to rise at least three times before the tracker loses out.

However, if borrowers want to switch to a fix, fixed rates may be higher than the rate they could have secured when they opted for a base-rate tracker, rather than taking one of the two-, three-, or five-year fixed-rate mortgages available previously.   

Most lenders offering competitively priced tracker rates let borrowers switch to a fix at any time with minimal early repayment charges, so homeowners can monitor the market and switch to more attractive fixed rates if and when they become available.  

Speak to a Trinity Financial adviser today

The mortgage market moves fast — and the right advice can make a significant difference to the rate and deal you secure. Get in touch with our team to discuss your options.

Call Trinity Financial on 020 7267 9399 to secure a fixed or tracker rate mortgage, book a consultation, or use our appointment calendar

The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage

Trinity Financial Director Anthony Emmerson joined Bloomberg's John Stepek on the Merryn Talks Money podcast to discuss rising mortgage rates and what homeowners can do to manage higher monthly repayments.

The key message? Don't wait until your mortgage deal expires to explore your options. Speaking to an experienced mortgage broker early could help you secure a more competitive deal and avoid unnecessary increases in your repayments.

Listen to Anthony's Bloomberg interview here. 

With the mortgage market experiencing significant volatility, Anthony shares practical advice on:

• Why homeowners should start planning their remortgage well before their current deal ends.
• Whether tracker mortgages could be a better option than fixed rates.
• How extending a mortgage term could help reduce monthly repayments.
• What changing mortgage rates mean for first-time buyers and the wider property market.                    

Speak to a Trinity Financial adviser today

The mortgage market moves fast — and the right advice can make a significant difference to the rate and deal you secure. Get in touch with our team to discuss your options.

Call Trinity Financial on 020 7267 9399 to secure a fixed or tracker rate mortgage, book a consultation, or use our appointment calendar

The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage

Which lender is offering the most competitively priced fixed mortgages?

Mortgage rates have been increasing again over the last week, but Halifax is still offering higher-earner fixes starting from 4.90%.

Halifax for Intermediaries recently granted brokers like Trinity Financial access to Lloyds Premier current account mortgage rates for eligible borrowers earning over £100,000. The rates undercut many fixed-rate mortgages on the market, and for those earning less than £100,000 the rate is around 4.81%. Many banks and building have increased their rates so they are over 5% now.  

The lender’s most competitively priced rate is fixed at 4.90%, and it has a £999 arrangement fee. Applicants will need a 40% deposit to qualify, and the mortgage is available between £25,000 and £2 million. If you would prefer to take a longer-term fix, Halifax also has a three-year fix priced around 4.85% and a five-year fix priced around 4.90%. These rates also have £999 arrangement fees, and applicants need to earn over £100,000 to qualify.

Trinity Financial’s mortgage brokers have access to Halifax Intermediaries and can check whether borrowers qualify for Lloyds Premier mortgage rates. To be eligible, at least one applicant must hold a Lloyds Premier current account.

New customers may also be able to open a Lloyds Premier current account before applying for one of the mortgage deals, provided they receive their account number and sort code before the broker submits the mortgage application. The process takes around 30 minutes, and the current account should be opened on the same day.

Aaron Strutt, product director at Trinity Financial, says: "It is not always that tempting to open another current account, especially for a mortgage, but Lloyds is making it worthwhile with current account incentives as well as cheaper fixed rates. There is a lot of competition in the market to attract higher earners at the moment."

Representative example: A Halifax capital and interest mortgage of £1,000,000 payable over 30 years, initially on a fixed rate basis at 4.90% until 31-12-2028 and then on the lender's 7.24% standard variable rate for the remaining 28 years. The 4.90% rate would require 25 monthly repayments of £5,307.97 followed by 335 payments of £6,739.56. The total amount repayable would be £2,390,551.85 made up of the loan amount, plus interest (£1,394,838.84) and £999 (product fee), £295 (final repayment charge), £25 (completion fee). The overall cost for comparison is 7% APRC representative..

Speak to a Trinity Financial adviser today

The mortgage market moves fast — and the right advice can make a significant difference to the rate and deal you secure. Get in touch with our team to discuss your options.

Call Trinity Financial on 020 7267 9399 to secure a fixed or tracker rate mortgage, book a consultation, or use our appointment calendar

The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage

Which lender has the lowest tracker mortgage rate after Halifax increases best best deal

Halifax has increased its lowest tracker mortgage rate, which tracked the current 3.75% Bank of England base rate plus a margin of 0.21%, removing one of the cheapest variable-rate deals available to borrowers.

The change means Barclays currently offers one of the lowest-priced two-year tracker mortgages for eligible homebuyers, with an initial rate of 3.99%. Santander, HSBC, Halifax and Nationwide for Intermediaries also have tracker deals priced close to 4%, although product fees and eligibility rules vary considerably.

Tracker mortgages have become more popular among borrowers seeking an alternative to increasingly expensive fixed-rate deals. However, they are variable mortgages, so monthly repayments can rise as well as fall. The most competitively priced two-year fixes and the lowest five-year fixes start from around 4.6%.

Which lender has the cheapest tracker mortgage?

As of 8 August 2026, some of the lowest two-year tracker or variable mortgage rates for property purchases are:

Barclays therefore currently has the lowest headline tracker rate for eligible homebuyers. The 3.99% deal is available to borrowers with at least a 40% deposit or equity and tracks the Bank of England base rate for two years.

Representative example: A capital and interest mortgage of £400,000 payable over 30 years, initially on a variable rate basis at 3.99% for two years and then on the lender's 5.74% standard variable rate for the remaining 28 years. The 3.99% rate would require 24 monthly repayments of £1,912.12 followed by 336 payments of £2,314.85 The total amount repayable would be £823,911.48. This amount is illustrative and may vary, made up of the loan amount, plus interest (£417,154.85) and £999 (product fee), £80 (final repayment charge), £25 (completion fee). The overall cost for comparison is 5.6% APRC representative.

What are the lowest tracker rates for remortgaging?

The tracker deals available to remortgage borrowers can be slightly different from those offered to purchasers.

Barclays currently has a two-year tracker remortgage rate of approximately 4% for those with a 40% deposit. HSBC follows closely at 4.05%, while Halifax offers a tracker at around 4.05%. Nationwide’s comparable remortgage tracker is approximately 4.15%.

For borrowers considering a five-year tracker, Barclays currently has one of the lowest rates at approximately 4.35%. However, committing to a variable rate for five years creates a longer period of exposure to possible Bank of England base-rate increases.

Why have tracker mortgages become more attractive?

The Bank of England base rate is currently 3.75%. Most tracker mortgages are priced at the base rate plus a set margin, so a mortgage priced at base rate plus 0.24 percentage points would currently have a payable rate of 3.99%. 

Unlike fixed mortgage rates, tracker pricing is not directly determined by swap rates. This can make trackers look more competitive when swap rates rise and lenders increase their fixed-rate mortgages.

Tracker mortgages may therefore appeal to borrowers who expect the base rate to fall or who want to avoid fixing at the current level.

Do tracker mortgages have early repayment charges?

Some tracker mortgages come without early repayment charges, making it easier for borrowers to move onto a fixed deal later. Others impose penalties during the initial tracker period.

This distinction can be particularly important for borrowers choosing a tracker as a temporary option while waiting for fixed rates to improve.

An early repayment charge-free tracker may also suit borrowers who:

• Receive large annual bonuses;

• Expect to sell their property;

• Plan to make substantial mortgage overpayments;

• Are due to receive an inheritance or other lump sum; or

• Want the freedom to switch onto a fixed rate.

Tracker products can differ substantially, and some deals may contain minimum-rate collars or restrictions on overpayments.

Is the lowest tracker rate always the best deal?

The lowest interest rate does not necessarily produce the lowest overall cost.

A tracker with a £1,499 fee may be less suitable for someone with a relatively small mortgage than a slightly higher rate with no arrangement fee. Conversely, borrowers with larger mortgages may save considerably more through a lower interest rate, even after paying a higher product fee.

Borrowers should compare:

• The initial interest rate;

• Arrangement, valuation and legal fees;

• Cashback or free legal work;

• Early repayment charges;

• Permitted overpayments;

• The rate charged after the tracker period;

• Affordability rules; and

• The total cost over the expected period of ownership.

Lenders also have different approaches to employed income, bonuses, commission, self-employed applicants, contractors, foreign-currency earnings and large mortgage loans.

Should you choose a tracker or a fixed mortgage?

A tracker mortgage could be suitable for borrowers who are comfortable with fluctuating repayments and believe interest rates may fall. It may also work well for borrowers who value flexibility and can absorb an increase in their monthly payments.

A fixed mortgage may be more appropriate for borrowers who need certainty and would prefer their repayments to remain unchanged for an agreed period.

There is no guarantee that tracker rates will become cheaper. Inflation, economic data and wider geopolitical events could cause the Bank of England to delay rate cuts or increase the base rate.

Call Trinity Financial on 020 7267 9399 to secure a larger mortgage loan, book a consultation, or complete our mortgage questionnaire. 

The information contained within was correct at the time of publication but is subject to change.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage

Major UK bank offers £1 million to £5 million mortgages to wealthy borrowers with complex incomes

Trinity Financial's brokers have secured access to a leading UK high street bank's expanding mortgage acceptance criteria designed to attract more wealthy borrowers seeking £1 million-plus mortgages. The bank is providing more specialist support for applicants whose income comes from company profits, bonuses, shares, investments, and overseas employment. It often has very competitively priced rates and low arrangement fees.

The lender's specialist large-loan team can consider mortgage applications from borrowers with complicated income arrangements who may struggle to meet standard affordability assessments.

This could be particularly beneficial for company directors, investment bankers, technology professionals, contractors, business owners and high-net-worth individuals looking to borrow £1 million, £2 million, £3 million or even £5 million.

The bank has highlighted 11 areas within the scope of its specialist mortgage discussions, including restricted stock units (RSUs), company net profits, investment income, trust income, foreign currency earnings and non-standard bonuses.

For borrowers who might traditionally have approached a private bank, this could provide another competitive lending option.

What types of complex income will the bank consider?

1. Net profits for limited company directors

Company directors often leave substantial profits within their businesses rather than withdrawing everything as salary and dividends.

The bank has identified net profits as an area for specialist consideration. This could help business owners demonstrate their true borrowing capacity, particularly when applying for mortgages above £1 million.

2. Restricted stock units (RSUs)

Many technology and financial services professionals receive restricted stock units as part of their remuneration packages.

Employees at companies such as Google, Amazon, Meta and Microsoft may receive substantial shares-based income alongside their salaries.

The lender has included RSUs within its specialist lending scope, potentially helping high earners whose basic salaries represent only part of their overall remuneration.

3. Surplus rental income

Wealthy borrowers may own multiple investment properties and receive significant rental income.

The bank can review cases involving surplus rental income, potentially helping property investors demonstrate additional income when arranging larger residential mortgages.

4. Non-standard bonuses

Investment bankers, lawyers, private equity executives and senior financial services professionals often receive substantial annual bonuses.

These payments may vary significantly each year, making standard affordability calculations more difficult.

The lender's specialist team can consider non-standard bonus arrangements when reviewing mortgage applications.

5. Sports and media personalities

Professional sportspeople, actors, television presenters and other media personalities may receive substantial earnings through contracts, sponsorship agreements and appearance fees.

Their incomes can be high but less predictable than conventional salaries.

The bank has highlighted sports and media personalities as an area for specialist lending consideration.

6. Ring-fencing private school fees

Private school fees can represent a significant financial commitment for wealthy families.

The lender has identified ring-fencing school fees as an area for discussion within its specialist lending team.

This does not mean school fees will automatically be excluded from affordability calculations, but the team may be able to review the applicant's wider financial circumstances.

7. Contractors with employment gaps or longer contracts

Highly paid contractors sometimes experience gaps between assignments despite having strong earning histories.

The bank's specialist lending scope includes contractor gaps and contracts exceeding 46 weeks.

This could benefit IT consultants, financial services contractors and other professionals with substantial contract earnings.

8. Contractors paid in foreign currencies

Some UK residents work for international businesses and receive income in US dollars, euros or other foreign currencies.

Foreign currency payments can make mortgage affordability more complicated.

The lender has identified contractor foreign currency income as an area for specialist review.

9. Investment income

Some wealthy borrowers receive significant income from investment portfolios, dividends and other financial assets.

The bank has highlighted investment income within its specialist lending scope.

This could help applicants who have substantial wealth but relatively limited traditional employment income.

10. Trust income

High-net-worth individuals may receive regular distributions from family trusts.

The bank can review applications involving trust income, subject to the structure, supporting evidence and sustainability of the payments.

11. Foreign income allowances

Senior executives working for international companies may receive accommodation allowances, overseas assignment payments and other additional employment benefits.

The lender has included foreign income allowances within its specialist lending discussions.

This may be useful for internationally mobile professionals whose remuneration arrangements are more complicated than a straightforward UK salary.

Important: These 11 categories are areas the bank has identified for specialist consideration. They do not mean every income type will automatically be accepted or included in full.

How much could you borrow with a £1 million to £5 million mortgage?

The lender offers substantial borrowing opportunities for applicants purchasing or remortgaging high-value properties.

Subject to its current criteria, affordability assessment and the type of mortgage required. Different limits may apply to interest-only borrowing.

Could a high street bank be better than a private bank for a £1 million-plus mortgage?

Many wealthy borrowers assume they will need a private bank when arranging a mortgage above £1 million.

However, some of the UK's largest high street banks have specialist mortgage teams capable of assessing complex applications and providing competitive rates on substantial loans.

There are several potential benefits:

• Competitive mortgage rates: Major high street lenders may offer cheaper fixed and tracker mortgages than some private banking alternatives.

• Lower arrangement fees: Mainstream mortgage products can have more conventional arrangement fees than bespoke private banking facilities.

• No requirement to transfer investment portfolios: Some private banks seek substantial assets under management as part of their client relationships, whereas high street banks will not typically impose the same requirements.

• Specialist income assessments: Complex earnings, bonuses, company profits and investment income may be considered by dedicated underwriting teams.

• Large mortgage availability: Borrowers may be able to access mortgages of £1 million to £5 million without automatically needing a private bank.

The most suitable lender will depend on the borrower's financial position, deposit, income sources and borrowing requirements.

Aaron Strutt, Product Director at Trinity Financial, comments:

"One of the biggest challenges for wealthy borrowers is that their income can be considerably more complicated than a straightforward salary.

"We regularly speak to company directors with substantial profits retained in their businesses, bankers receiving large bonuses and technology professionals whose remuneration includes significant share awards.

"It is encouraging to see a major high street lender taking a more specialist approach to these types of mortgage applications, particularly for borrowers looking for £1 million, £2 million or more.

"Many high-net-worth borrowers automatically assume they need to use a private bank, but that is not always the case. High street banks can offer some extremely competitive rates and lower arrangement fees.

"Private banks may also want to manage clients' investment portfolios as part of their wider relationship. This is something wealthy borrowers may prefer to avoid, particularly where transferring investments could create additional costs or tax complications.

"The key is identifying which lender will recognise the applicant's full financial circumstances and offer the most competitive borrowing terms."

Speak to a Trinity Financial adviser today

The mortgage market moves fast — and the right advice can make a significant difference to the rate and deal you secure. Get in touch with our team to discuss your options.

Call Trinity Financial on 020 7267 9399 to secure a large fixed or tracker rate mortgage, book a consultation, or use our appointment calendar

The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage