Following its recent launch of exclusively packaged £1 million private bank mortgages via Trigold Prospector, largemortgageloans.com has launched two new 5 year tracker products to cater for loans between £500,000 and £1 million. These products are available exclusively to PMS members.
Minimum loan size is £500,000 and maximum loan to value is 50%, available for residential and buy to let purposes. Pricing is LIBOR + 1.50%, with a minimum pay rate of 2.50%, for residential, LIBOR + 2.00%, with a minimum pay rate of 3.00%, for BTL. The product has a flexible facility where clients can overpay and drawdown to suit their changing circumstances.
largemortgageloans.com specialises in mortgages of between £500,000 and £50 million and has expertise and experience in creating tailored solutions for brokers and their clients.
Paul Welch, Managing Director of largemortgageloans.com, comments “This further develops our partnership with private banks, combining our expertise in packaging large loans with Trigold’s technology platform and PMS’s distribution power.”
Contact – Paul Welch, Managing Director of largemortgageloans.com:
telephone: 020 7519 4900
e-mail: paul.welch@largemortgageloans.com
Product Details
Criteria: £500,000 minimum loan and 50% maximum LTV. BTL maximum number of properties = 4, rental income 130% of monthly mortgage payments
Pricing: weekly LIBOR + 1.50%, with a floor of 2.50% for residential, LIBOR + 2.00%, with a floor of 3.00% for BTL. Both are a 5 year renewable facility.
1% up front arrangement fee, reflecting the flexible overpayment and drawdown facility
0.275% commission payable to the broker on completion
Find out more about Buy To Let Mortgages.
