Multi Million Pound Mortgage

A multi million pound mortgage is a loan of £2 million or more secured against UK property, typically underwritten individually by private banks and specialist large loan lenders. These lenders assess overall wealth, income, and liquidity rather than applying a standard income multiple alone.

Lenders verify wealth for multi-million pound loans through source of wealth and source of funds checks required under UK anti-money laundering rules. Verification typically includes bank and investment statements, company accounts, tax records, and sale or inheritance documentation, and private banks may also seek accountant or lawyer confirmation.

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.

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.

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.