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Large Mortgage Loans to cease mortgage broker operations
High-net-worth specialist broker firm Large Mortgage Loans has closed its business effective from Friday 18 August.
In a statement, the firm said: “We are committed to ensuring a smooth transition for all our clients and introducers and have collaborated with The Money Group to facilitate the completion of ongoing transactions.”
Large Mortgage Loans was set up in 2003 to cater for high-net-worth individuals’ borrowing, especially for those looking to borrow more than £500,000.
According to its LinkedIn page, there were around 19 employees in total.
The firm offered residential, buy-to-let, commercial, bridging, equity release, development finance, overseas and multi-currency mortgages as well as margin lending.
Margin lending is a way for high-net-worth individuals to borrow low-cost, short-term money by using the assets of an individual or company to leverage against to raise money.
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It also allowed cryptocurrency, facilitated financing for luxury asset classes and arranged private and commercial insurance.