When looking to take out, or refinance a large mortgage, we will start by talking to you about your objectives, background, plans and goals, as that will then drive the type of lender we talk to and what type of products we may recommend.
The FCA recently defined a High Net Worth Individual as someone who earns £300,000+ or has £3 million worth of net assets. This is very helpful as if you at this level or above, lenders can be more flexible and it is quite commonly the bar to entry with most Private Banks.
With large mortgage loans the ‘affordability’ rules are more sophisticated. Therefore we can choose to stay on the high street and use some of the lenders you know well, or we may veer off into the world of Private Banks and use some lesser known names. The purpose is always to get you the best outcome, so this is how we look at things:
High Street Large Mortgage Lenders
Private Bank Large Mortgage Lenders
This is where Large Mortgage Brokers add phenomenal value. We have years and years of experience of placing different clients with different banks.
This is a personal decision, and we guide you on what’s best for you, so we help you pick the mortgage path that will suit you best.
Assessment of income
Cross charging is something which is quite specific to the High Net Worth world.
Say you own a £5million property with a £1million mortgage.
You wish to purchase a second property for £5million.
There are many ways you can achieve your mortgage goals in ways which are quite specific to this high mortgage lenders’ sector.
The underlying mortgage does follow the same principles covered in other areas (for more information see our Homebuyer video) however, the points outlined above are probably some of the more specific things you need to think about when approaching large mortgage lenders.
Specifically, Large Mortgage Brokers are really helpful in advising you at the outset with high mortgage lenders, so you do not have multiple meetings putting together endless amounts of information just so that at the last minute the mortgage deal falls apart because the pricing isn’t what you wanted or something unforeseen occurs.
We can do the hard work at the front end so the back end proceeds smoothly and you can achieve what you want to achieve.
A quick and easy way to calculate your monthly mortgage payments. Simply enter the amount you wish to borrow, the term over which you intend to pay it off and the interest rate. Then hit the ‘Calculate’ button.
The first figure gives the total monthly payment for a straight repayment mortgage, including both interest and payment towards the capital loan amount. This reduces the amount owed on the capital, month by month. The second figure shows the amount of interest payment only.
This information is a guide only and should not be relied on as a recommendation or advice that any particular mortgage is suitable for you. All mortgages are subject to the applicant(s) meeting the eligibility criteria of lenders. Make an appointment to receive mortgage advice suitable for your needs and circumstances.
A fee of up to 1% of the mortgage amount may be charged depending on your circumstances (ie. £1000 on a £100,000 mortgage). A typical fee is £495 plus we will receive commission from the lender.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Rose Capital Partners Ltd is an appointed representative of PRIMIS Mortgage Network, a trading name of Advance Mortgage Funding Limited which is authorised and regulated by the Financial Conduct Authority. The Financial Conduct Authority does not regulate some forms of Buy-to-Let. The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. Rose Capital Partners Ltd. Registration No. 08843654 registered in England and Wales. Registered Address, Leigh Saxton Green, Clearwater House, 4-7 Manchester Street, London W1U 3AE.