Mortgages for large six or seven bedroom properties
There are a number of banks and building societies happy to offer mortgages to borrowers purchasing particularly large properties.
NatWest for Intermediaries will not limit the maximum amount of bedrooms a property has when applying for a mortgage. Nationwide for Intermediaries may well set a cap of nine bedrooms per property.
Aaron Strutt, product manager at Trinity Financial, says: "Some mortgage lenders set a limit on the maximum amount of bedrooms they like in a property when offering a mortgage, but there are lots of options available. The lenders are very reliant on their property valuers comments, so if they approve of the property there is more of a chance the mortgage will be approved."
Marketability of large properties
Properties with many bedrooms compared to other homes in the area might be harder to sell, affecting the lender’s risk assessment. This means lenders want to understand how the property will be used and why they want so many bedrooms.
Here is a list of the basic rules for mortgage lenders and the property sizes they accept:
| Mortgage lender | Number of bedroom cap | Property subject to valuer comments |
| Accord Mortgages | No maximum number of bedrooms | Yes. Subject to valuers comments and the applicants intentions for the property. |
| Bank of Ireland | No maximum number of bedrooms | Yes. Underwriters will consider the size of house, number of applicants etc. |
| Barclays for Intermediaries | No maximum | Yes. Subject to valuers comments. |
| Halifax for Intermediaries | No maximum | Yes. Each application will be assessed on its own merits. |
| Hinckley & Rugby BS | Five bedrooms | Yes. Assessed on a case by case basis. |
| Metro Bank | No maximum | Yes. Subject to valuer comments. |
| Pepper Money | Four bedrooms | Yes. Subject to valuer comments. |
| Santander for Intermediaries | No maximum | On a case by case basis. |
| UTB | No maximum | Yes. |
Key Considerations for Buyers and Lenders:
- Appraised value: Bedrooms impact the home's value and determine the maximum loan amount the lender will approve. If you plan to buy a large home and let some of the rooms, is it worth getting an appropriate mortgage so you do not breach any lender rules. This could result in a report to CIFAS, which could cause real financial issues.
- Utility and layout: Lenders may evaluate whether the number of bedrooms aligns with the overall size and functionality of the house.
Call Trinity Financial on 020 7016 0790 to secure a large property mortgage, book a consultation, or complete our mortgage questionnaire.
The information contained within was correct at the time of publication but is subject to change.
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