Mortgages Over £5 Million

Though wealthier clients can often buy high-value properties outright, using a large mortgage loan can be more advantageous long term. By using a mortgage, high net worth clients could:

• Free up cash for other investments or unexpected costs
• Assist other family members trying to access the property ladder
• Help pay towards other properties

In short, a mortgage for a £5 million pound property helps free up equity. Retaining liquidity, therefore, can help streamline money into other areas of investment for such clients.

With Magni Finance, high net worth individuals can acquire £5 million mortgage loans through the private banks we have partnered with. Such private banks will also offer expert financial advice.

Despite mainstream lenders broadening their lending criteria for large mortgage loans due to property prices increasing, accessing a £5 million pound mortgage is still most feasible through a specialist mortgage broker like Magni Finance. Because many high street banks set a limit as to how much they can lend to borrowers, as well as working on strict eligibility checklists, many wealthier clients will not be accepted through mainstream avenues.

Instead, private lenders can help. However, these cannot be accessed or approached alone without a formal introduction. Magni Finance, nevertheless, as a specialist mortgage broker can introduce clients to the appropriate lenders to get a £5 million mortgage.

Magni Finance through years of experience has built up a network with private banks in the UK. By using us, not only will clients be able to access competitive rates for a £5 million mortgage, but they will also be provided with a premium financial service.

Clients with Magni Finance are given the best possible care – they are not treated as customers, but instead, as long-term partners.

By using Magni Finance, clients will:

• Increase their chances of being accepted for a £5 million mortgage
• Secure their loan quickly and efficiently
• Receive the most competitive mortgage rates
• Have access to our other premium financial services
• Be treated on a case-by-case basis
• Be able to use our expert financial advice for complex terms

To secure a 5 million pound mortgage with Magni Finance, clients will first need to meet our minimum eligibility and affordability criteria. We work with high net worth clients who typically earn £300,000 per year or have at least £3 million in assets. However, we are flexible in our eligibility criteria for the right client.

Both UK and non-UK residents are able to use our services. Clients living abroad will need to earn at least £300,000 per year and have a deposit of at least 15% to better their chances of being accepted.

The process to securing a £5 million+ mortgage or any other type of mortgage product with us is straightforward:

• Contact Us

To begin the process of getting a 5 million pound mortgage with Magni Finance clients simply need to contact us. Either contact us by filling out our short online enquiry form, or by calling us at 0207 046 7847 or by emailing us via info@magnifinance.co.uk.

Once a client has contacted us, we can then set things in motion as quickly as possible to arrange an initial consultation.

• Prepare Financial Information

The initial part of a mortgage application with a high net worth broker works similarly to it would through a mainstream lender. Clients, to ensure a successful application, will need to arrange to have their financial information beforehand:

• Income structure
• Details on global assets and liabilities
• Lifestyle expenditure, for example, private school fees
• Undergo the Initial Consultation

Once all of the necessary information has been gathered, Magni Finance will then have a one-to-one meeting with the client. During the first meeting, we take the time to understand the client’s financial and personal situation. Not all clients have the same goal when it comes to large mortgage loans, so we truly take this into account during the first meeting and throughout the mortgage process.

The initial consultation is also a key time to discuss any non-standard forms of income or unconventional situations a client may be in. Doing so, it prepares both us and the client when moving forward to find the best lender.

• Introduction to a Lender

Following the first consultation, we will then start to set things in motion. During this part of the mortgage application process, we will find the best mortgage lender for the client in question.

Having built up a network of private bank lenders over the years, we are in front position to find competitive and flexible terms for all of our clients. Furthermore, clients are treated on a unique basis. Hence, they will be referred specifically to the lender we believe suits them best.

• Negotiate Terms

After we have introduced a client to a potential lender, we will also negotiate terms on our clients’ behalf. Once an offer has been made, we can then discuss this with the client to see if it is a good fit. If not, we can then mediate the terms.

• Accept the Offer

In most cases, for properties requiring a £5 million mortgage timing is important. Therefore, if a client is happy with an offer, we will then move things quickly to secure the £5 million mortgage for them.

This part of the process works similarly to what it would with a mainstream mortgage lender; the client will need to sign all of the necessary documents and have everything set in place.

How long it will take to get a £5 million mortgage agreed upon will depend on the lender and client in question. In order to ensure a fast yet efficient process, clients are recommended to have all of the necessary documents and information prepared before the initial one-to-one meeting with us. Following this, it could take around 2 to 3 weeks to get an offer made.

Time is often a crucial factor when clients wish to access large mortgage loans. In most cases, such loans are required to secure competitive properties that sell fast. Therefore, at Magni Finance, during quick turnarounds, we can help speed up the process to secure a £5 million mortgage.

How much a £5 million mortgage will cost depends on the term length and interest rate agreed upon. In addition, it will also depend on whether the mortgage is interest-only, part-interest or full capital repayment.

Nevertheless, as specialist high net worth brokers, we can help find clients the most affordable terms. We take each client’s individual financial position into account.

Contact us today if you would like to discuss the potential cost of a £5 million mortgage.

Click here to try our mortgage calculator.