Increase in big loans

The Halifax has revealed that strong house price growth seen in the UK over the past few years is now contributing to an increase in the number of high-end mortgage deals being made in the UK. Over 88,000 homes in the country are now worth £1 million or more, and banking firm Investec has said that banks are beginning to offer more larger-size mortgages than they once were. “A lot of our clients have particularly complex circumstances, which is why we design everything on a custom-built basis,” said Investec spokesperson Andrew Arnott. “A lot of the products on the market aren’t available if the loan size is over half a million or a million pounds. It’s more specialist players that deal with those sorts of mortgages, so it’s more difficult for borrowers to find products right for them,” Mr Arnott noted.