In recent years it has become increasingly difficult to obtain a larger loan in a way you would like the loan to be structured. A lot of high street lenders have a specific range of mortgages for large loans and in most cases, dependent upon the loan size, the loan will need specialist underwriting and sanction by head office before full agreement.
The loan could also be subject to certain constraints which may require you to compromise to have the loan accepted.
In recent times the intricacies of lending policy is a minefield and any aspect of your application can result in the lender refusing to lend to you, be it the percentage of your income derived from bonus, the way you have structured your company accounts/income, to the type and size of the property you intend to buy.
This tightening up of procedure is both frustrating and time consuming and if the wrong lender is chosen a lot of time may be wasted before you are rejected by a lender.
At Morgan Sterling Ltd we deal with large loans and high net worth clients on a day to day basis. This has allowed us to build strong relationships with all of the UK lenders and with the knowledge, contacts and experience gained, we know which lenders to approach to get everything you need.
