Introduction

For most people, buying a home is the biggest investment they will ever make. However, for high net worth individuals, purchasing a million-pound property is not uncommon. But securing a mortgage for such a property can be a more complicated and daunting process than a regular mortgage. This is where Prestige Mortgage Solutions comes in.

What is a Million Pound Mortgage?

A Million Pound Mortgage is a loan taken out to purchase a property that is worth over a million pounds. These types of mortgages are often referred to as 'jumbo mortgages' and can be used to purchase a primary residence, second home, or investment property.

How to Secure a Million Pound Mortgage

Securing a million-pound mortgage can be a complicated process due to the high loan amount and the risks involved. Lenders offering such mortgages are often more cautious and require a substantial deposit, typically 25% or more of the property value. Additionally, lenders may require extra documentation to establish the borrower's ability to repay the loan such as proof of income and assets. This is where Prestige Mortgage Solutions excels, by working with their clients to ensure they have all the necessary documentation and securing the most suitable mortgage deal for their individual circumstances.

Conclusion

Prestige Mortgage Solutions is committed to providing bespoke mortgage advice to their clients. They work with their clients to ensure that they understand the mortgage process and can secure the most suitable mortgage deal for their individual circumstances. If you are considering purchasing a million-pound property, it is advisable to seek expert advice from a specialist mortgage broker, such as Prestige Mortgage Solutions. Contact them today to start your mortgage journey.