home :: press releases :: Clegg Gifford Private Clients launches Largemortgageloans.co.uk

4th June 2006

Clegg Gifford Private Clients launches largemortgageloans.co.uk as the UK’s first large loan specialist: a dedicated mortgage broker for the more discerning homebuyer seeking borrowing in excess of £250,000 - www.largemortgageloans.co.uk
...according to the Portman Building Society, 60,000 homes in Britain are now worth in excess of £1 million

Are you one of Britain’s 60,000 property millionaires?  If not, you could well be by 2020 when the Portman Building Society estimates that the UK will house around two million property millionaires.  Watch this space. 

Clegg Gifford Private Clients, one of the UK’s most forward thinking mortgage brokers, is an associate company to Clegg Gifford & Co, Lloyd’s Brokers and Tradex Insurance Company Ltd.  This June 2006, borne out of increasing client and socio-economic demand, Clegg Gifford Private Clients launches www.largemortgageloans.co.uk, the UK’s first dedicated large mortgage loan service, for discerning home buyers seeking loans in excess of £500,000 upwards.


According to Paul Welch, Managing Director, Clegg Gifford Private Clients:

“The decision to launch www.largemortgageloans.co.uk was a natural progression for us.  Unless you work in the mortgage market, who do you speak to? Your local bank which is probably not very local anymore, or you review the nationals.  Largemortgageloans tells consumers simply what we deal with and with low fees of £395 to cover our costs, as the lenders pay us very well, makes it an extremely attractive offering compared to other brokers that may charge up to 1% of the loan amount.  With average house prices creeping up to an average of £306,661 in Greater London alone*, borrowing requirements clearly need to reflect change and complement the needs and wants of the end target market.   

“In addition, individuals may be used to a certain level of customer service due to his or her commercial or social success.  As a former senior private banker and wealth management adviser, I have the experience to provide individuals with the bespoke services they require.  Regardless of the size of the loan, Clegg Gifford Private Clients offers a no-nonsense, tailored service coupled with quick turnaround delivery.  The longer term fallout interests me, wondering how IHT, inheritance laws and stamp duty may be affected by increasing home prices,” he added.

www.largemortgageloans.co.uk

Large Mortgage Loans Mini Fact Box Summary

  • Since trialling the Large Mortgage Loans service within the UK (2 Jan 2006 till May 2006) Clegg Gifford Private Clients has arranged mortgages totalling £75m.
  • Lenders working with Clegg Gifford Private Clients on the Large Mortgage Loan product include Abbey, C & G, Clydesdale and Julius Baer with others having made enquiries.
  • The plan is to launch an exclusive mortgage offering in the very near future to meet the growing demand in this market.
  • Projected levels of business equate to £300m for year ending 2006 if present demand continues. 
  • The average loan enquiry is £572k for largemortgageloans.co.uk
  • 95 per cent of properties are situated in London

 

Clegg Gifford Private Clients, launched in 2003 by Paul Welch and Roy Clegg, founder and owner of Tradex, is an associate company of Clegg Gifford Co Ltd, Lloyd’s Brokers and Tradex Insurance Company Ltd.  Since 2003, the company team has grown from one to 18-strong, currently based in two Docklands offices.  For more information about Clegg Gifford Private Clients and associated financial products, please visit www.cgprivate.com or email the team at info@cgprivate.com quoting reference ‘prmortgage’.  Alternatively you can call 0845 338 5040 quoting reference ‘prmortgage’. 

*Land Registry – March 2006

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