London Mortgages

Multicultural London is a global business centre, offering prestigious addresses and world-class educational institutions. As such, it has retained its popularity with worldwide investors, despite Brexit uncertainty and tax changes.

The ultra-prime residential market has stalled over the last two years, but there are clear signs of recovery. There are a wide range of private, niche and investment banks who can comfortably work with complex global clients, and presently low interest rates mean borrowing can be cheap.

What you need to know

countries_LONDONMost private banks will lend in the region of 60-65% LTV, with some pushing to 85% for exceptional clients. AUM are not always required, but if so, will range from a flat £500,000 up to 30% of the loan amount. This is usually asked for in cases where the client has a particularly complex profile, or is looking to improve the interest rate.

Buy-to-let mortgage finance is typically based on the rental income generated by the property, and is available at 65-75% LTV. The rental income will need to cover 100-150% of the monthly mortgage payments; however, this is less important for clients with sufficient income or wealth.

Some lenders have detailed criteria regarding age, nationality or the availability of interest-only mortgages. Strong income or wealth profiles allow for these to be bypassed.

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