July 5th, 2010
5 July 2010
Largemortgageloans.com, the specialist large loans broker, has appointed Martin Reynolds as its virtual Business Development Director, tasked with expanding the Largemortgageloans.com’s strategic partnership programme to include all the leading UK financial adviser networks.
With its team of experienced brokers and its close relationships with private banks, Largemortgageloans.com’s partnership programme helps network and club members place large mortgage loans in excess of £500,000, improve their customer service, earn valuable revenue and grow both networks’ and members’ business in the process.
Read the rest of this entry »
Posted in Press Releases | No Comments »
June 8th, 2010
Q: I have a 10% deposit to put down but require a large mortgage of £990,000.00. What are my chances of getting a mortgage?
A: In the current post credit crunch mortgage market, it is difficult to obtain a 90% loan-to-value mortgage for a loan size of over £ 500,000 through high street lenders.
Read the rest of this entry »
Posted in Ask An Expert | No Comments »
June 8th, 2010
Q: My tracker mortgage finishes at the end of July. Should we take a fixed higher rate motgage over 2 or 3 years. Or a lifetime tracker at bank of engalnd rate plus 1.99% at no early repayment fee and only £140 exit fee. No application fee.
When rates go up are they going to go up quickly, or gradually. As an expert what would you do please?
Read the rest of this entry »
Posted in Ask An Expert | No Comments »
United Kingdom
Brazil
Canada
European Union
Guernsey
Ireland
Jersey
United Kingdom
United States
Private access to the best rates
July 6th, 2010If you wish to arrange property finance on an interest-only basis you will probably find that the best rates are now available from private banks.
High-street lenders continued to tighten the criteria on their interest-only mortgages during June. The Lloyds Banking Group, which includes the Halifax, BM Solutions and Cheltenham & Gloucester brands, will no longer offer the option of interest-only repayments if customers borrow over £500,000 or accept the future sale of a house or business as a repayment vehicle on any interest-only loan.
“It is getting harder and harder on the high street to place interest-only deals above 75% loan-to-value,” said Nigel Bedford of Largemortgageloans.com. “Even below this, lenders are being more restrictive on what they will accept as a repayment vehicle and the documentation required to confirm it.”
Interest-only mortgages have grown in popularity among high net worth borrowers, with most loans over £1m being financed in this way.
Private banks will still want to agree a reasonable repayment method, but are less likely to ask for any particular proof because of their better understanding of how high income clients operate their finances.
Posted in Commentary | No Comments »