High Value Mortgages
High Value Mortgages £1m+ Mortgage Broker
We arrange high value mortgages for UK borrowers buying or refinancing property from £1 million. At this level, lending is assessed by an underwriter rather than a scorecard, and the right lender depends on your income, your assets and the property itself. Gerard Ward works with high street large loan teams, private banks and specialist lenders to find terms that fit your circumstances.
Speak to a high value mortgage specialist
What Is a High Value Mortgage?
There is no single legal definition. In practice, “large loan” and “high value” describe borrowing above the limits of a lender’s standard lending. Many mainstream banks do not treat a mortgage as a large loan until it passes £1 million, and some set the line nearer £1.25 million. Some lenders run dedicated high value services from £2 million, and private banks lend well beyond that.
High value, large loan and million pound mortgages explained
| Term | Typical loan size | Who usually lends |
|---|---|---|
| Large mortgage | From about £500,000 | High street lenders |
| Million pound mortgage | £1 million and above | Large loan teams, private banks, specialist lenders |
| High value mortgage | £1 million to £2 million and above, depending on the lender | Dedicated high value teams, private banks |
| Multi-million pound facility | £5 million and above | Private banks, agreed case by case |
When specialist lending applies
A high street large loan desk can work well if your income is a straightforward salary and your structure is simple. Specialist lending matters when:
- a large share of your income is bonus, commission or vested shares
- you draw dividends, partnership profits or retained company profits
- part of your deposit is held in investments or another property
- the property is unusual, such as a country house with land, or is held in a company
In these cases, a lender that underwrites by hand and looks at your whole financial position will usually give a better outcome than an automated affordability model.
Our High Value Mortgage Services
We arrange residential and investment lending from £1 million for UK property. Each option below links to its own page where one exists.
Million Pound Mortgages
Purchase, remortgage and refinance lending from £1 million on prime London property, country houses and high value homes across the UK. We approach the lender type that suits your profile first, rather than sending the same case to every bank, so you are not declined by the wrong lender before a better one has seen it.
Private Bank Mortgages
Private banks can offer larger loans, more flexible underwriting and bespoke structures, particularly when your overall wealth is strong. Some expect you to place investments with them, known as assets under management (AUM), while others lend without it. Loan to value on private bank lending is often in the 60% to 65% range, with higher levels for exceptionally strong profiles. See the private bank mortgages section of our mortgages page.
Interest-Only High Value Mortgages
Interest-only keeps monthly payments lower and leaves capital free to invest elsewhere, but the loan is still owed in full at the end of the term. Lenders will want a credible repayment plan, such as the sale of the property, an investment portfolio or a documented bonus record. Many cap interest-only borrowing at around 70% to 75% loan to value.
High LTV and High Loan to Value Mortgages
If you want to keep cash available for other investments, we look at lenders who will lend a higher percentage of the property value. Maximum loan to value usually falls as the loan size rises, so the structure matters more at £3 million than at £1.2 million. Where your cash deposit is smaller, some lenders will take a charge over another property or a portfolio instead.
High Net Worth Mortgages
HNW borrowers often have wealth in several forms, such as property, investments, company shares and pensions, so a standard affordability model rarely tells the full story. As an HNW mortgage broker, we present your whole financial position to lenders that assess high net worth mortgages by hand.
Borrowing Against Your Investments
If you hold a share portfolio, you may be able to pledge it as security alongside, or instead of, part of a cash deposit. This can also be arranged separately through Lombard loans or borrowing against an investment portfolio. Pledged investments are at risk if their value falls or payments are missed.
Large Buy-to-Let and Limited Company Mortgages
Lending above £1 million on investment property is usually assessed holistically, looking at your wider income and assets as well as the rent. We arrange borrowing for individuals and for limited companies and SPVs. See our buy-to-let, portfolio and MUFB pages. Some buy-to-let mortgages are not regulated by the Financial Conduct Authority.
Who Lends High Value Mortgages?
Three types of lender cover most borrowing above £1 million. The right one depends on how you are paid, what you own and how much you need.
High Street Large Loan Teams
Many high street banks lend above £1 million through dedicated underwriting teams, and a few go well beyond that. They tend to suit salaried borrowers with straightforward income and a simple structure. Their flexibility reduces as the loan grows, and few will assess complex income in detail.
Private Banks
Private banks look at your whole financial position, including your assets and income sources. They often lend at the top end of the range and can consider unusual properties or ownership through trusts or companies. Some require assets under management, and the amount varies by bank. Others offer dry lending with no transfer of assets.
Specialist Lenders and Building Societies
Specialist lenders and some building societies underwrite by hand and will look at documented but non-standard income, such as company profits or partnership income. Their loan limits are usually lower than private banks, but they can be more flexible than a high street desk.
High Value Lender Types Compared
| Lender type | Typical loan size | Typical maximum LTV | Best suited to |
|---|---|---|---|
| High street large loan teams | £1m to £5m, a few higher | Up to about 85% at £1m to £2m, lower as the loan rises | Salaried borrowers with simple income |
| Specialist lenders and building societies | £1m to £5m, some higher | Often 75% to 80% | Non-standard income, unusual properties |
| Private banks | From £1m, regularly £2m to £20m | Often 60% to 65%, higher for strong profiles | Complex income, significant assets, large loans |
Figures are indicative. Each lender sets its own criteria, and these change often.
How Much Can You Borrow?
On a standard multiple of around five times income, a £1 million mortgage needs an income of roughly £200,000, and £2 million needs about £400,000. High value lenders often go further, because they look at your total wealth as well as your salary. Some specialist lenders will lend six times income or more.
How Lenders Assess Income on Large Loans
Most lenders at this level underwrite manually. An underwriter reads your documents and decides how much weight each income source deserves. How the same income is treated can vary widely between lenders, which is why presentation and lender choice matter.
Bonuses, Dividends and Share Income
Some lenders credit only part of a bonus. Others take a full two or three year average where the pattern is sustainable. Dividends, share awards and commission are treated in a similar way, so we match the income type to the lender most likely to value it.
Self-Employed Borrowers and Company Directors
If you take a modest salary and leave profits in your company, a standard model will understate what you can afford. Specialist lenders may look at retained profit as well as salary and dividends, usually against two to three years of accounts.
Pension, Trust and Other Income
Pension income, trust distributions and rental income can all be taken into account. Foreign currency income is often discounted to allow for exchange rate movements.
Using Assets Alongside or Instead of a Deposit
At this level, many lenders accept investments or a second property as security alongside a cash deposit, or in place of part of it. This can let you keep capital invested, but it increases what is at risk. If you want to borrow against investments separately, see borrowing against an investment portfolio.
Loan-to-Value Limits by Loan Size
The larger the loan, the lower the maximum loan to value tends to be.
| Loan size | Typical maximum LTV | Minimum deposit | Who underwrites |
|---|---|---|---|
| £1m to £2m | Up to about 85% | About 15% | Large loan teams at high street, private and specialist lenders |
| £2m to £5m | About 75% to 80% | About 20% to 25% | Mainly private banks and specialist lenders |
| £5m and above | About 65% to 70% | About 30% to 35% | Private banks, bespoke |
For example, on a £1.5 million property at 80% loan to value, the loan would be £1.2 million and the deposit £300,000. Higher loan to value is possible on strong profiles, but it is agreed case by case.
High Value Mortgage Costs
Interest Rates Versus Arrangement Fees
Large mortgages do not always carry higher rates. A lower loan to value, often 60% to 65%, can unlock some of the most competitive rates available. On a large loan, a lower rate with a higher arrangement fee can be cheaper overall than a higher rate with a lower fee, so we compare the total cost over the period you plan to hold the loan. Private banks often charge an arrangement fee of around 1% of the loan.
High Value Mortgage Rates
High value mortgage rates depend on the lender, the loan to value, the loan size and whether you choose a fixed or variable rate. Rates change often, so we confirm what is currently available for your case rather than quoting a headline figure.
Valuation, Legal and Broker Fees
Valuation fees rise with the property price, and lender legal fees and your own solicitor’s costs apply as well. We confirm all fees in writing before you proceed.
Stamp Duty Land Tax
Stamp Duty Land Tax is payable on purchases and rises with the price. Surcharges can apply to additional properties and to purchases through a company. Check the current rates with your solicitor or on GOV.UK before you commit to a purchase.
When Bridging Finance Fits a High Value Purchase
If you need to complete quickly, for example at auction or before selling your current home, a bridging loan can fund the purchase and be repaid by a long-term high value mortgage or a sale. Bridging is short-term and costs more than a mortgage, so we only suggest it where the exit is clear. See our bridging loans, large bridging loans and chain break bridging pages. Some bridging loans are regulated and others are not.
How a High Value Mortgage Works
Step 1: Initial Conversation
We go through the property, the loan you need, how you are paid and what you own. You tell us what matters most, whether that is the lowest rate, the lowest deposit or keeping capital invested.
Step 2: Lender Selection
We identify which lender types are realistic for your case and approach the most suitable ones, rather than applying everywhere. Some lenders can give an informal view before you make a formal application.
Step 3: Application and Underwriting
We prepare your documents so the underwriter can read your case clearly. Manual underwriting takes longer than a standard application, particularly with private bank credit committees or complex ownership structures.
Step 4: Offer and Completion
Once the lender issues an offer, we work with your solicitor and the lender’s solicitor through to completion and keep you updated on timescales.
What You Will Need
- Proof of identity and address
- Evidence of where your deposit has come from
- Two years of income evidence: payslips and P60s, or accounts and tax returns for company owners and partners
- Bank statements
- A statement of your assets, including property, investments and pensions
- Details of the property, including the agreed price and tenure
- For interest-only borrowing, your repayment plan
Why Use a High Value Mortgage Broker?
Access to Lenders That Don’t Deal Direct
Many private banks and specialist lenders prefer, or only accept, applications through a broker. A broker also lets you compare lender types on the same case, so you do not have to approach each one separately.
Structuring Complex Cases
The same income, assets and property can be presented in ways that lenders read very differently. As a high value mortgage broker, we structure the case before it goes to the lender, so the underwriter sees what you can afford rather than only what appears on a payslip.
Your Adviser
Gerard Ward holds the CeMAP qualification, is a member of the Chartered Insurance Institute and has 20+ years’ experience in finance. Mortgage advice is provided as a certified and assessed individual of Marklay Mortgages Ltd (FCA individual reference GXW00468).
High Value Mortgage FAQs
What is classed as a high value mortgage?
There is no fixed definition. Most lenders treat borrowing above £1 million as a large or high value mortgage, some run dedicated high value services from £2 million, and private banks lend well above that.
What income do I need for a £1 million mortgage?
On a standard multiple of five times income, you would need about £200,000. High value lenders often look at your total wealth as well, so the figure can be lower if you have substantial assets or other income.
What deposit do I need for a high value mortgage?
At £1 million to £2 million, deposits of around 15% are common. The percentage rises as the loan grows. Some lenders accept investments or another property instead of part of the cash deposit.
Are interest rates higher on large mortgages?
Not necessarily. A lower loan to value can unlock very competitive rates. At the top of a lender’s range, a higher rate or arrangement fee may apply to cover the lender’s risk.
Can I get an interest-only high value mortgage?
Yes, interest-only is common at this level. Lenders will want a credible repayment plan, such as selling the property, an investment portfolio or an expected bonus, and often cap interest-only borrowing at around 70% to 75% loan to value.
Can I get a high value mortgage if I am self-employed?
Yes. Specialist and private bank underwriters can look at your accounts, retained profit and total assets rather than relying only on salary and dividends.
Do private banks require assets under management?
Some do, and the amount varies. Others offer dry lending with no transfer of assets. We tell you which applies to each lender before you apply.
Do I need a broker to get a high value mortgage?
You do not have to use one, but many private banks and specialist lenders prefer or only accept broker applications. A broker can also compare lender types on your case and structure the application before it is submitted.
How long does a high value mortgage take?
It depends on the lender and the complexity of your case. Manual underwriting, private bank credit committees and trust or company ownership can all add time, so tell us your deadline at the start.
Speak to a High Value Mortgage Specialist
Tell us about the property, the loan you need and how you are paid, and we will explain which lender types are realistic and what each will ask for.
Your home may be repossessed if you do not keep up repayments on your mortgage. Some buy-to-let mortgages are not regulated by the Financial Conduct Authority.