Lets find the right mortgage for you!
We search whole of market to offer our customers the best Large Mortgage deals and rates
Large Mortgages are classified as any amount borrowed over £500,000. Taking on a large mortgage is a huge financial commitment which should not be under estimated. There are multiple factors that should be considered before taking out a large mortgage and our specialists at Amber Mortgage Solutions can help guide you through the process and arrange the best finance option for you.
What to consider when applying for a Large Mortgage?
The first thing to check is if you would qualify for a loan of £500,000 or more. This will come down to a few factors, one of which will be the size of your deposit. The best approach is to be level headed and not over stretch yourself financially. Remember, the better the Loan to Value (LTV) the better the rate will be as you be borrowing less money. Providers will be able to offer better terms if you have a deposit of over 10%.
You must also consider whether you can keep up with the monthly repayment. This is especially important if you are self employed or a contractor as your income may not be as consistent as more traditional PAYE employees.
When mortgage providers access applicants for large mortgages they do not just consider the ability to repay the mortgage each month. They may also ask for proof of your ability to continually pay the prospective costs of owning the property, including utility bills, council tax and any other applicable costs.
These costs should always be factored into the decision alongside the type of large mortgages available, such as interest only or repayment. Amber Mortgage Solutions have a superb team of specialists who can help you analyse your financial situation and find you the best mortgage available.
Large Mortgages over £2 million
The process of securing a mortgage for over £2 million can be very complex, as the deposit requirements can often be 40% that the loan may be secured against existing properties.
Amber Mortgage Solutions will work with you to understand your specific requirements, make a detailed analysis of your current financial circumstances including both your income and wealth status as well as the value of the mortgaged property.
We will then work with our lenders to find the best rates on offer and ensure that you fully understand the documentation that the lender will require from you.
If you are looking to secure a large mortgage then get in contact with Amber Mortgage Solutions today on 01702 619221.
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We’ll concentrate on helping you compare mortgage rates with the following in mind:
- Fixed, tracker, discount and variable rate mortgages
- Repayment and interest only mortgages
- Free survey and cash back deals
- Early repayment charges
How We Work
- To start with please either call us or complete the above application form.
- One of our mortgage consultants will be in touch with you to discuss your application.
- After we have your details, we will search the market for the best schemes to suit you.
- We will then talk you through the details of your mortgage.
- 100% Secure, Confidential and hassle free.