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Cambridge BS launches large loan mortgage up to £2m

Cambridge Building Society has launched a product aimed at borrowers looking to lend between £500,000 and £2m and will accept up to £750,000 of the loan on an interest-only basis.

The five-year fixed rate mortgage is available at 4.19 per cent up to 75 per cent loan-to-value. The arrangement fee is 0.2 per cent.

CBS marketing manager Carole Charter says: “Larger loans are not suitable for everyone but there are people out there who would benefit from this unique product.

“We have introduced several new products to our mortgage range over the past few weeks and we feel this new addition is a further improvement.”

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