Mortgage Light

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01908 597655
New Homes Hotline – 01908 870017
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Home / Mortgages / High Net Worth Mortgages
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High net worth mortgage advisor in Milton Keynes

Large loan mortgage broker for HNW individuals

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High-value loan mortgages

As a high net worth individual, it can be difficult to find a high street lender that offers the right kind of mortgage product to cater to your needs. Most high street lenders in the UK offer mortgages of up to around £1 million - anything above that is out of their comfort zone. They also may place restrictions on the maximum loan to value on offer for larger loans. 

If you need a mortgage of a higher value, you may need to turn to specialist high net worth mortgage lenders and private banks. It’s often the case that these lenders don’t always have a high street presence, so you may need the help of a HNW mortgage advisor and broker to access them.

Here at Mortgage Light, we have extensive knowledge and strong relationships with high net worth mortgage lenders, making us best placed to arrange a bespoke mortgage to suit your requirements. We’re in touch with lenders that offer the open and flexible approach to assessing income that is needed when working with HNW individuals.

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We can help you with:

  • Residential properties
  • Investment properties
  • Commercial properties
  • Repayment mortgages
  • Interest-only mortgages
  • Offshore solutions for UK ex-pats, non-domiciled UK residents, UK residents earning in a foreign currency and foreign nationals
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Benefits of using a high net worth mortgage broker

When dealing with large amounts of income, it’s important to make smart financial decisions. With this in mind, it’s a good idea to use a trusted high net worth mortgage advisor and broker to access the right lenders. And in fact, many high net worth mortgage lenders will only accept mortgage applications from those who have enlisted the help of a mortgage advisor, so it pays to put your trust in our hands.

At Mortgage Light, we talk directly with underwriters at specialist and large banks and understand the special financial circumstances surrounding HNW mortgages, such as family trusts, offshore investments, and multi-currency income profiles. 

We know exactly how to communicate your financial situation to the right mortgage lenders on your behalf - and the best part? We do all the hard work for you, taking the right steps to efficiently get your mortgage application processed as quickly as possible - we know time is often of the essence with larger deals.

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FAQs

Why do high net worth individuals struggle to get a traditional mortgage?Expand

Over the years and especially since the global financial crisis in 2008, requirements have become ever stricter when it comes to being approved for a mortgage. It has become more difficult for anyone to be approved for a mortgage, but especially high net worth individuals. 

This is because high street lenders typically focus on an applicant’s steady income. However, the wealthier someone is, the more complex their finances often are. They often receive irregular income and perhaps obtain their wealth from inheritance and trusts. For this reason, obtaining a mortgage usually requires a specialist lender with a different approach.

How much do you have to earn in order to be considered a high net worth individual?Expand

The Financial Conduct Authority (FCA) defines a high net worth individual as someone with earnings no less than £300,000 per annum, or with net assets valued at no less than £3 million. These assets can include equity in residential property.

What is the minimum deposit for a large mortgage?Expand

The minimum deposit for a large mortgage is usually around 10%. Most commonly though, deposits are usually at 15% or more. If needed, we can find lenders that will consider loans against current assets to boost cash deposits.

Can I get a high net worth mortgage with a poor credit rating?Expand

Poor credit ratings can affect everyone, regardless of their financial position. However, there are lenders who will look at applications from borrowers with poor credit ratings. There are even a few who specialise in these types of mortgage applications.

What is considered a big mortgage?Expand

The answer to this question will differ between lenders, but generally speaking, a mortgage of £1 million and above can be considered a big mortgage.

Can you get a million pound mortgage?Expand

Yes, you can get a million pound mortgage as long as you meet the lender’s affordability and eligibility requirements. The number of properties valued in excess of £1 million is steadily increasing in the UK, so these million pound mortgages are becoming more and more commonplace.

How to get a million pound mortgage?Expand

Most high street lenders in the UK have a mortgage limit of £1 million. With that in mind, you may be able to find a suitable million pound mortgage with a high street lender. Failing that, you may need to turn to a private bank.

How Mortgage Light can help

Mortgages can be complex, and large mortgages even more so - but that is what we’re here for. We’ve helped many individuals secure the right HNW mortgage for their needs, and we can do the same for you. If you’d like to know more about how we can help, chat with one of our experts by contacting us today.

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Who We Can Help

  • First Time Buyer
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Which Mortgage is Right For You?

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Mortgage Light Head Office

1 Whittle Court,
Knowlhill,
Milton Keynes,
MK5 8FT

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Free Initial Consultation

All of our brokers deal with the whole of the mortgage market. It doesn’t matter what the question or when you want to speak to us, we have brokers available on the phone or face to face seven days a week. Whether you are just thinking of buying a home and have no idea where to start, a seasoned investor or someone looking to better your current mortgage product, we are happy to help andchat over ideas free of charge.

So we can give you plain and simple advice we will run through some basic questions to help us tailor products to suit your needs. Upon us taking your application forward we will write to inform you that we have given you advice and give you a Key Facts Illustration breaking down the important elements of the product and the fees involved.

For us to take your application forward to a lender we charge an upfront administration fee of £349. For our returning customers looking to renew their mortgage product this fee reduces to £199. We also receive commission from the lender.

A fee of £349 is payable on application of the mortgage. We will receive commission from the lender in addition to the fees you pay. Your home may be repossessed if you do not keep up repayments on your mortgage. You may have to pay an early repayment charge to your existing lender if you remortgage. As with all insurance policies, conditions and exclusions will apply.
Covering Milton Keynes.

Registered Office: Mortgage Light Ltd Church View Chambers, 38 Market Square, Toddington, Dunstable LU5 6BS. Registered Company Number: 8184773. Registered in England & Wales.

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