Mortgage guide
Million Pound Mortgages: detailed guide
We provide whole-of-market advice for buyers, homeowners, and investors borrowing £1 million or more, helping borrowers identify which mainstream,…
- Published
- 18 Aug 2026
- Last reviewed
- 18 Aug 2026
- Reading time
- 3 min
£1 Million Pound House Mortgage (Residential)
A £1 million pound house mortgage is a residential mortgage used to buy or remortgage a main home valued high enough to support borrowing of £1,000,000 or more. At this loan size, many lenders move the application into a large loan or premier underwriting process, where affordability is assessed manually rather than by automated scoring alone.
Read more about £1 Million Pound House Mortgage (Residential)
Multi Million Pound Mortgage
A multi million pound mortgage is a loan of £2,000,000 or more secured against UK property, and at this level private banks and specialist large loan lenders become increasingly relevant. Multi million pound mortgages are usually individually underwritten, meaning the lender assesses the whole financial position, income, assets, liabilities, and liquidity, rather than applying a simple income multiple.
£1 Million Pound Buy-to-Let Mortgage
A £1 million pound buy-to-let mortgage is an investment mortgage of £1,000,000 or more secured against one rental property or structured across a portfolio. Buy to let lending at this level is assessed primarily on rental income coverage, though many lenders also apply minimum personal income requirements and background portfolio checks at larger loan sizes.
Mortgage repayment calculator
£1.5 Million Commercial Mortgage
A £1.5 million commercial mortgage is a business loan secured against commercial or semi-commercial property, such as offices, retail units, hospitality premises, or mixed-use buildings. Commercial mortgage payments at this level are driven by the loan structure, as commercial lenders price individually based on the property, the tenant or trading business, and the strength of the covenant.
Million Pound Mortgage Lender Criteria
For context, these are the wider product terms covered by this guide. Availability and eligibility depend on your circumstances and the lender.
| Criteria | Detail |
|---|---|
| Loan sizes | £1,000,000 upwards, including multi-million pound mortgages |
| Maximum Loan to Value (LTV) | Up to 95% |
| Borrowers | Personal, Ltd company, LLP, Trusts |
| Repayment type | Capital Repayment, Interest Only, or Part and Part |
| Term | Up to 40 Years |
| Income accepted | Employed, bonus and commission, self-employed, investment income, foreign currency |
| Interest only | Available subject to a credible repayment strategy |
| Valuation type | Standard mortgage valuation; prime and non-standard property may require specialist valuation |
For context, these are the wider product terms covered by this guide. Availability and eligibility depend on your circumstances and the lender.
| Feature | Detail |
|---|---|
| Product fee | Between £0-£995 |
| Type | Residential |
| Rates | From 4.59% |
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Mortgage secured after an affordability appeal
- Area:
- West Midlands
- Loan size:
- £92,000
Frequently asked questions
What are the repayments on a £1 million pound mortgage?
Repayments on a £1 million pound mortgage are calculated from the interest rate secured, the term chosen, and the repayment type. Shortening the term increases the monthly payment but reduces total interest, while interest only lowers the monthly cost but leaves the balance to repay at the end.
What is a million pound mortgage broker?
A million pound mortgage broker is a mortgage adviser who specialises in arranging loans of £1 million or more, with access to mainstream lenders, specialist lenders, and private banks. Whole-of-market brokers compare large loan policies across the market rather than recommending a single lender's range.
How much do you need to earn for a million pound mortgage?
The income needed for a million pound mortgage depends on each lender's income multiple and how much of your variable income they will use. Because lenders apply different multiples and treat bonus, commission, and self-employed income differently, the required income varies significantly between lenders.
What deposit do I need for a £1 million pound house mortgage?
The deposit needed for a £1 million pound house mortgage depends on the maximum loan to value each lender offers at that loan size. Some lenders reduce their maximum loan to value on larger loans, so the required deposit can be higher than on a standard mortgage.
Can first time buyers get million pound mortgages?
Yes, first time buyers can get million pound mortgages if their income and deposit meet the lender's large loan criteria. Lenders do not exclude first time buyers from large loans, but they scrutinise the source of the deposit, and gifted deposits from family must be documented and declared.
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