More lenders offering £3 million mortgages

by Aaron Strutt

Apr 29 2015

Trinity Financial has access to a selection of banks and building societies offering fantastically priced £3 million mortgages.

There is a lot of competition between the lenders to attract high net worth clients and they are offering some really impressive rates. 

For example, if you are looking to raise £3 million to purchase or remortgage a property, Trinity has access to a lender offering a two-year fix at 1.59%. The overall cost for comparison is 3.7% APR. 

After the fixed rate period the mortgage will revert to 3.49% over the banks base rate, currently 3.99%.

How much will it cost?

The monthly payments on an interest-only basis would be £3,975 or £12,125 on a full capital repayment when taken over a 25-year term.

There is a £2,999 arrangement fee and borrowers will need to put down a 35% deposit to qualify.

Aaron Strutt, product manager at Trinity Financial, says: “High street lenders are certainly attracting clients who would have traditionally approached the private banks.

“They (the high street lenders) don’t ask for assets to be transferred as part of the transaction and typically offer longer mortgage terms. More of them are also setting up specific teams to manage applications from brokers with wealthier clients.

“Over the last year the rates associated with £1 million plus mortgages have improved dramatically and the arrangement fees have also been lowered.”

If you would like help to secure a large mortgage loan, call Trinity Financial on 020 7016 0790.