Mortgages Over £10 Million

The options to get a £10 million mortgage through high street lenders are extremely limited. However, specialist brokers like Magni Finance are in a prime position to find high net worth (HNW) clients for multi-million mortgage deals.

Getting a £10 million mortgage differs slightly from one through a mainstream lender. One of the main reasons is that £10 million mortgage products are rare in comparison to standard ones. However, HNW brokers specialise in introducing clients to private bank lenders and can do so discreetly.

If you are a high net worth individual seeking a £10 million mortgage, whether it be to buy a residential home or investment property, then contact us. We will arrange the mortgage application on your behalf and refer you to a lender we have built a long-term relationship.

A high net worth client is someone who earns, or has total assets, above a certain threshold. According to the Financial Conduct Authority (FCA), a high net worth individual (HNWI) is someone who earns above £300,000 per year or has accumulated at least £3 million in assets. There is, nevertheless, no set definition that mortgage brokers heavily rely on to work with a client.

Visit our dedicated high net worth individual page to find out more about what constitutes an HNWI and why specialist mortgage brokers tend to work with such clients.

Evidently, accessing a mortgage for £10 million is unheard of through a high street bank or building society. Instead, clients work with specialist mortgage brokers who can then introduce them to the right private bank. Mortgage brokers are essential in the field of large mortgage loans, primarily because private bank mortgages cannot be acquired without a formal introduction.

Magni Finance has access to many private bank lenders for mortgages on a £10 million+ house. If you would like to secure a £10 million mortgage, then book a consultation with us. We will source the best possible mortgage product for you – quickly and with minimal fuss.

Generally, clients tend to earn at least £300,000 per year or have assets of £3 million as mentioned above. Magni Finance can help find clients who are deemed a ‘high net worth individual’ the best mortgage product for a £10 million+ property. Likewise, those with unconventional forms of income will also be considered for a mortgage application through Magni Finance.

For example, clients can use the following as part of their proof of income or assets:

• Unencumbered property
• Investment property portfolios onshore and/or offshore
• Stocks
• Bonuses or commission
• Retained business profits
• High-end assets e.g. fine art, vintage cars, yachts, etc.
• Business assets
• Income via trusts

Private bank mortgages, furthermore, will consider other ‘non-standard’ forms of income. They can additionally provide expert advice and funding for clients’ other investments, such as stocks or bonds. Hence, using a specialist mortgage broker enables clients to access exclusive services.

The rates for a £10 million mortgage are entirely dependent on a client’s personal financial circumstances, what kind of property they are wishing to purchase as well as what type of property it is. Generally, however, Magni Finance can source £10 million in mortgages with an interest rate starting from 3.85%. In all cases, even in the most complex ones, we will negotiate the best interest rates.

How much a £10 million mortgage will cost is completely reliant on a client’s financial background and goals. Some clients wish to acquire interest-only mortgage payments which tend to be more cost-effective long term. Others, however, may have higher monthly repayments if they have a non-standard form of income.

Generally, a £10 million mortgage may cost a client per month as follows:

Nonetheless, the above is a general guideline. Because we work with clients individually, the interest rates and monthly repayments will likely differ.

Click here to try our mortgage calculator.

High street lenders expect borrowers, for £10 million mortgages, to have a deposit of at least 40% due to them only offering a maximum loan to value (LTV) at 60%. Private lenders, however, have the means to offer higher LTVs – within the region of 85-90%.

The deposit amount depends on the client we are working with. Typically, we work with clients who have a deposit of at least 15-20%. International clients, meanwhile, will need to have a deposit of 25-40%.

Yes, Magni Finance works with many international clients. Regardless if you are a UK resident or not, we can help source the best mortgage terms for a £10 million mortgage. Whether you live in Dubai, Monaco, Switzerland, Hong Kong or the USA – we can help.

Eligibility criteria for international clients, meanwhile, do differ. Such clients will need to earn at least £300,000 per annum and have a minimum deposit between 25% and 40%. But, it is important to keep in mind that the lenders we work with are flexible with their eligibility criteria.

We regularly arrange large mortgage loans for both UK residents and international clients wanting to purchase high-value properties abroad. In the past, we have helped secure properties in Monaco, Switzerland, Spain, Portugal and France. Contact us now to find out more.

We help clients secure high-value properties both in the UK, especially in sought-after areas in the South of England and London, alongside properties abroad. We have successfully secured investment properties, such as buy-to-lets, second homes as well as commercial properties.

Meanwhile, we also have extensive experience in finding large mortgage loans for residential properties. Whether a client wishes to purchase a holiday home or a second home for future children, we can assist.

Take a look at our case studies to see the types of properties we have successfully secured for our clients.

Yes, Magni Finance does not only arrange large mortgage loans for £10 million+ properties, but we also specialise in other types of mortgage products, such as asset-backed mortgages, development finance, large bridging loans, commercial mortgages and loans against unique assets such as yachts.

We also offer other premium financial services and have access to contacts in both the financial and property sector.