Large mortgage loans
Whether you’re a first-time buyer looking for a great deal, or an experienced property investor seeking competitive rates, our team can help you find a large mortgage to suit your circumstances.
Lender criteria is often flexible for large mortgage loans, which are typically considered to be worth over £1million. However, that’s not to say you won’t face challenges at the application stage, this comes down to how underwriting works.
At the larger high street lenders and well-known banks, cases are no longer just manually underwritten, this is due to the sheer volume of applications they receive, it would be too expensive and time-intense to review each case by hand. Instead, they have initial checks carried out by algorithms, once a case jumps through all of the technical hoops, it’ll finally reach a human’s desk, where it is checked the old-fashioned way.
The two main problems that you’ll find with large loan mortgages is they do not fit the standard customer profile; this can be made worse when you throw something such as complex income structures or a unique buying situation into the mix; your case can be thrown out before it even reaches anyone's desk.
The other issue is linked to timescales, if your case does reach an underwriter, providing documents and keeping on top of the lender is a full-time job in itself. It’s not uncommon for you to upload a document, wait for ages for it to be assessed, and find out they still require further information. The reason? Large loans are risky for lenders, that’s a lot of eggs in one basket, because of this they require extremely specific documents to approve your case and mitigate the risk.
Having a mortgage advisor guide you through every stage of the process is a massive benefit to high net worth individuals, who want to make sure they are not faced with any unexpected hurdles, as they prepare to finance the property of their dreams. Our expert knowledge and extensive market research will allow us to pinpoint your application to a specific lender, paired with our dedicated mortgage teams we are able to monitor and keep on top of your application, calling you with a weekly update and letting you know how everything is progressing.
CLS Money not only understands the large mortgage market, but we also have access to a wide network of private lenders. Unlike many of the high street names, these companies have the underwriting expertise to offer big mortgages to borrowers, without any unnecessary delays. When time is of the essence and exchange needs to happen quickly, this is an element of our service that proves to be invaluable to clients. We also know exactly how to present your case to these specialist lenders, to maximise your chances of being accepted for a large mortgage loan.
Explore all the property financing options that are available to you. We offer financial advice for those with complex income structures, anyone looking into investment mortgage contracts, and any other type of large mortgage loan. We'll make sure to match you with the best specialist lenders for your situation, one that will examine all the relevant lending criteria, approving your mortgage application, before you'd have even made it past the first step with the high street banks.
Contact CLS Money to discuss your large mortgage loan requirements in detail with one of our knowledgeable advisors. Our mortgage advice is second to none, whatever your personal income, and whatever type of mortgage you need.