The Mortgage Works launches a new large loans proposition

The Mortgage Works has launched a new large loans proposition enabling intermediaries to apply for loans of up to £5million for their clients.

The large loans offering, which is initially being offered to around twenty intermediary firms, means brokers with high net worth clients can apply for loans of between £500,000 and £5million (a maximum LTV of 65% applies to £5million, 75% LTV is only available up to £3million). Both tracker and fixed rates products are available over a two, three or five year term.

Andy McQueen, managing director of The Mortgage Works, said the new proposition could be an excellent opportunity for brokers whose clients fit the criteria to write more business. He commented: "Brokers who have prime, high net worth clients who have the ability to repay these large loans may benefit from this additional suite of products with which to service their clients. The addition of a premier service in London dedicated to supporting intermediaries applying for these products means brokers, and their clients, are also guaranteed excellent service levels."