Coutts expand their £1million + mortgage offering to the Broker market
Coutts a subsidiary of the Nat West group, from today are making mortgages over £1million more widely available, through the mortgage broker market.
Coutts is well known in the larger mortgage market, especially over £1million plus, which until now were only available directly. Coutts offering is to provide a bespoke solution on a ‘personalised basis’ whether you are looking to purchase a property or remortgage.
What is Coutts Mortgage Criteria?
All mortgage clients of Coutts will need to open a bank account with them and use this to make their mortgage payments
Client’s need to be over the age 18 and over, with minimum mortgage term of 2 years and the maximum 35 or age 80.
Mortgage Amount needs to at least £1million with maximum loan to value (LTV) 85 per cent and 75 per cent LTV for buy to lets.
Coutts will allow you to pay overpayments up to 10 percent of the outstanding balance per year during the fixed rate period.
With in their product offerings for both residential and buy to let mortgages, Coutts offer:
- Fixed Rates which can be 2-year, 5-year or10 year
- Tracker Rates which are linked to the Bank of England base rate.
- Offset Mortgages where GBP, US Dollars and Euros can be used
- Green Mortgages for energy efficient homes.
Mortgage Reserve Account which is available with residential mortgages is a form of overdraft with a limit secured on your home, usually at mortgage interest rates. Mortgage client will be able to draw on this facility when required up to the limit agreed.
Amounts and Loan To Value Parameters – Residential
| Property Value | Interest Only | Capital & Interest |
| <£830,000 | 75% LTV | 90% LTV |
| £830,000 - £2,999,999.99 | 75% LTV | 85% LTV |
| £3M - £4,999,999.99 | 75% LTV | 75% LTV |
| £5m - £9,999,999.99 | 75% LTV | 75% LTV |
Amounts and Loan To Value Parameters - Buy To Lets
| Property Value | Interest Only | Capital & Interest |
| £2,999,999.99 | 75% LTV | 75% LTV |
| £3M - £4,999,999.99 | 55% LTV | 65% LTV |
| £5m - £9,999,999.99 | 50% LTV | 60% LTV |
Source – Coutts & Mortgage Solutions
So how can Brooklyns Financial help?
Will advise you on the options available that are bested suited to you. We are here to help you every step of the way Just give us a call 01628 564631 or email us info@brooklynsfinancial.co.uk for an initial chat?
The information contained within was correct at the time of publication but is subject to change.
YOU HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
