Large Mortgage - mortgages over £500,000

Large Mortgage Service:

At Smaart we are used to dealing with large mortgages and know exactly which lenders want your business. Applications are dealt with quickly and on a confidential basis. Your mortgage advisor will remain your personal point of contact throughout the application process.

We believe that our service is one of the best in the UK, as do many of our customers who not only return to us time and time again but who also recommend us on a regular basis. Unlike many of our competitors we do not charge a brokerage fee when the lender is paying us for the mortgage introduction.

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If you require a mortgage in excess of £500,000 you will need extra help. Many High Street Lenders change their criteria when larger mortgage borrowing is required. The criteria changes are:

Increased Deposit Requirements: Many lenders expect you to increase your deposit. We understand that you may not wish to tie up your liquid capital in your home. We are currently able to offer 95% mortgages to £600,000 – 90% mortgages to £1,000,000 and 85% to £2,000,000.

Higher Arrangement Fees: Many Lenders will charge arrangement fees for large mortgages, typically when the borrowing exceeds £1,000,000. As your Broker we will help you avoid excessive arrangement fees and negotiate with the Lender on your behalf where appropriate.

Higher Interest Rates: If you are looking to borrow over £1,000,000 you may be offered “Executive” Interest Rates. Although the name suggests something special, in effect the lender is charging a higher rate based on the possible risk in lending a large sum of money on mortgage terms. We are usually able to obtain mortgage finance to £5,000,000 without the need for you to pay an Executive interest rate.

Confidential Service:

It goes without saying that all our clients’ details are treated in the strictest confidence, however we understand that some of our high net worth and celebrity clients may need some further assurance. We are pleased to offer this assurance within the parameters of English Law.

To discuss your mortgage with one of our consultants, telephone 0800 756 9556.

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