Mortgages Over £1 Million – Specialist Large Loan Experts

Mortgages Over £1 Million

Securing a mortgage over £1 million requires more than just a strong income. It demands a lender who understands complex financial profiles, high-value property, and the importance of tailored, discreet service.

At Strive, we arrange high-value loans from £1 million up to £25 million. We work with private banks, mainstream lenders, and specialist providers to deliver competitive, bespoke solutions for clients with complex income or asset structures.

Whether you’re purchasing a luxury home, refinancing a multi-million-pound estate, or structuring income from multiple sources, our team are experienced in navigating the intricacies of high-value lending.

How Much Do You Need to Earn to Get a £1 Million Mortgage?

For mortgages above £1 million, most lenders lend between 5 and 5.5 times income. In some cases, particularly for professionals or high-net-worth individuals, up to 6 times income may be achievable.

These are broad estimates. The actual amount depends on your income structure, deposit, outgoings, and whether you’re employed, self-employed, or a company director.

Here’s a rough guide:

How Much Can You Borrow?

Mainstream lenders typically cap large loans between £2 million and £5 million. For borrowing above that level, private banks or specialist lenders usually step in, offering bespoke underwriting and the ability to assess your broader financial position, including assets, investments, or trust income.

If your circumstances point towards private banking, our guide to private bank mortgages explains how these lenders assess cases differently.

If you’re self-employed, lenders may assess your last two years’ accounts or average your salary and dividends, depending on how your business income is structured. We outline the main approaches on our page for mortgages for self-employed.

How Long Can You Borrow Over?

Terms for large mortgages can extend up to 35 or 40 years, depending on age, profile, and exit strategy. Some lenders cap the term at age 70 or 75. Private banks can be more flexible, particularly for interest-only or part-and-part arrangements where there is a clear, credible repayment plan.

How Much Deposit Do You Need for a £1 Million Mortgage?

Deposit requirements vary by lender and loan structure.

• Mainstream lenders commonly require at least a 15% deposit (maximum 85% LTV).
• Private banks may be more flexible and may consider lending above 85% LTV for the right profile.
• Below £1m borrowing, some lenders still allow 10% or even 5% deposits for strong applications.

Private banking can also consider asset-based lending, where investments, vested awards, or future bonuses are factored into affordability. Learn more in our overview of private bank mortgages.

What Will Monthly Payments Look Like?

Monthly repayments depend on loan size, term, interest rate, and whether the mortgage is repayment or interest-only.

For an instant estimate, use our mortgage repayment calculator.

Interest-only can materially reduce monthly outgoings, but you’ll need a clearly defined repayment strategy, such as sale of the property, maturing investments, bonuses, or other assets.

Can You Get an Interest-Only Mortgage Over £1m?

Yes. Many lenders will consider interest-only on large loans, particularly where there is a minimum 25% deposit and a viable, evidence-based repayment plan.

For part-and-part mortgages (a portion interest-only, the remainder on capital repayment), you may access more options even at 75% LTV or higher.

Are There Million-Pound Mortgages for First-Time Buyers?

While less common, high-value first-time buyer mortgages do exist. Some lenders provide enhanced affordability or tailored products for individuals with strong current or future earnings potential, such as doctors, lawyers, or finance professionals.

If this sounds like you, take a look at our mortgages for professionals guide for more information.

What Are the Rates and Fees Like?

Rates on large loans vary according to:

• Loan size and deposit
• Lender type (mainstream or private bank)
• Repayment type (repayment vs interest-only)
• Overall financial profile and complexity

Typical fee structures include:

• Fixed fees in the region of £999 – £2,000
• Percentage-based fees around 0.5% – 1% of the loan amount

Private banks may charge arrangement or facility fees for bespoke lending structures, particularly where assets under management or complex income sources are involved.

Can You Get a £1m+ Mortgage if You’re Self-Employed?

Absolutely. We regularly secure large loans for business owners, contractors, and company directors. Lenders can assess on:

• Salary and dividends
• Retained profits
• Share of net profit (for partnerships/LLPs)
• Day-rate or contract-based income (where applicable)

Approaches differ significantly by lender. Our guide to mortgages for self-employed explains how various structures are treated and how to present your case to reflect your full financial strength.

High-Net-Worth Mortgages and Private Banks

If your net worth or income exceeds £3 million, you may qualify for high-net-worth exemption, allowing lenders greater flexibility on income assessment, documentation, and product structure.

Private banks can look beyond conventional affordability models and consider:

• Global income and assets
• Bonus or investment income
• Offshore structures
• Trusts or corporate entities
• Complex or multiple income streams
• Assets held in company or partnership structures
• Portfolio or investment-backed lending

This flexible approach allows private banks to tailor lending around your overall wealth position rather than just your income multiples.

You can learn more in our guides to private bank mortgages and mortgages for high-net-worth individuals.

Case Study

Client: Senior executive in finance
Loan: £2.5 million interest-only mortgage
Deposit: 30%
Solution: We approached a private bank able to consider bonus income and RSU vesting schedules, securing a rate 0.45% lower than mainstream options — saving the client over £9,000 per year in interest.

How Strive Mortgages Can Help You Secure a Million-Pound Mortgage

At Strive, we work across the whole market — from mainstream lenders to exclusive private banks — to deliver tailored solutions for clients borrowing between £1 million and £25 million.

We understand that large-loan borrowers value discretion, speed, and expert guidance. Our team take care of everything, from identifying suitable lenders to managing complex income evidence and coordinating with your solicitors, accountants, or wealth managers.

Whether you’re a professional with strong earnings potential or a high-net-worth client with multiple income sources, we can structure your mortgage efficiently and strategically.

If you’d like to explore your options, you may find our mortgages for professionals, private bank mortgages, or mortgages for high-net-worth individuals pages helpful.