Is it possible to secure a £1 million+ mortgage with a 10% deposit?

by Aaron Strutt

Oct 23 2019

Trinity Financial has arranged a host of £1 million+ mortgages for clients with 10% deposits who did not think it would be possible.

The majority of banks and building societies cap their maximum loan sizes at £750,000 for those with 10% deposits - but there are some exceptions.

Trinity has access to one mortgage lender that has increased its maximum loan size on its ‘plus’ range to £1,500,000 for those with 10% deposits.

Aaron Strutt, product director at Trinity Financial, says: “Some of the private banks and a couple of building societies provide higher loan-to-value large mortgages for those with smaller deposits, providing the client earns enough money.

“Some of the private banks provide larger loans on the condition the mortgage balance is reduced at agreed times, typically around bonus time.”

Are the rates more expensive?

If you are looking for a larger loan with a smaller deposit, the banks will charge a premium over the best buy deals, but it should not be massive. Although, some of the building societies offering terms charge a lot more. The lenders have a strong appetite to attract higher-net-worth clients.

How many lenders offering larger mortgages?

More of the lenders have set up specific high-net-worth departments with dedicated teams to agree £1 million+ mortgages.

Trinity’s broker has a strong track record of securing fast mortgage offers with fantastically cheap rates. Click here to view our case studies.

Call Trinity Financial to secure a low deposit £1 million+ mortgage