Number of £1m-plus mortgages granted to lenders has risen by a fifth,with private banks main funders of central London trophy propertiesBritain’s property bubble has created a new phenomenon: the rise of the £1m mortgage. Figures obtained by the Guardian reveal how in the final 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 bear mortgages of more than £500000.
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Source: theguardian.com