Number of £1m-plus mortgages granted to lenders has risen by a fifth, with private banks main funders of central London trophy properties Britain's property bubble has created a new phenomenon: the rise of the £1m mortgage. Figures obtained by the Guardian reveal how in the last year the number of £1m-plus mortgages granted by the major mortgage lenders has jumped by nearly a fifth, while one in 14 borrowers now have mortgages of more than £500,000.
Britain's super-rich cash in on low interest rates with £1m mortgages
The Guardian - 2 Oct 2015 16:22
Number of £1m-plus mortgages granted to lenders has risen by a fifth, with private banks main funders of central London trophy properties Britain's property bubble has created a new phenomenon: the rise of the £1m mortgage. Figures obtained by the Guardian reveal how in the last year the number of £1m-plus mortgages granted by the major mortgage lenders has jumped by nearly a fifth, while one in 14 borrowers now have mortgages of more than £500,000.
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