Rise of £5m-plus mortgage: low interest rates lure super-rich

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Global elite take out £1.8bn in mortgages for London houses in year to end of September

The super-rich have taken out 185 £5m-plus mortgages over the past year to take advantage of historically low interest rates and buy expensive luxury properties in London.

Members of the global elite signed up for the loans in the year to the end of September, according to figures released by the Financial Conduct Authority following a freedom of information request.

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from The Guardian https://ift.tt/2td2IKR

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