When it comes to getting a mortgage, most of us would approach the same familiar banks and building societies. However, if you look closer at the information given for these types of mortgages, you’ll see there are normally limits within which your loan must fall. Very often the upper limit will be £1 million at most. In some cases it can be less than this, with around £750,000 being the upper limit.

Where does this leave those homebuyers who have the potential to spend or borrow more? The answer lies with large mortgage loans and the companies that are dedicated to providing them. In these situations – if you approach the right people – it is possible to discuss a mortgage loan that is upwards of £1 millio and up to £10 million.

Specialist mortgage providers of large mortgage loans

Typically speaking you will need to find a specialist provider if you are looking for a sizeable home loan that is not offered by the usual banks and building societies. Many such providers are experienced in assisting people who are looking for larger mortgages. They have extensive contacts in this area of finance and can help many people who would ordinarily be turned away by traditional banks.

Indeed, it is usually helpful to approach specialists in this area instead of going through the normal channels. As you can imagine, many of the people who are in a position to get mortgages of this size are professionals and extremely busy.

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As such, the utmost discretion and privacy is required, and this comes as standard with companies that are used to dealing in large mortgage loans. This degree of privacy and professionalism is much sought after by many people who require a sizeable home loan to help them buy the property of their dreams.

Bespoke mortgages

Many large mortgage loans are of a bespoke nature. Smaller mortgage sums are easy to find comparable figures for. You can look online and compare prices on any number of different websites.

However, when it comes to much bigger mortgages, fewer people are in need of them. The individual nature of the mortgages also means it is more difficult to obtain a rough idea of interest rates and repayment amounts without contacting relevant parties for more information.

In this situation each person is treated as an individual. Their circumstances and loan request are both taken into account in order to find the most appropriate mortgage for their needs. Indeed, by talking to someone with experience in arranging large mortgages for their clients, you can get a much more accurate idea of how such a mortgage can be arranged.

It is good to know large mortgage loans are far from impossible to find. However, it is important to make sure you look in the right places for them. Whether you are looking for a loan of this size, or you are simply daydreaming about the time you could afford to start looking, it is reassuring to know they are available.

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