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:
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 email@example.com.
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.
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.
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.
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.