What changes when the mortgage itself is £1 million or more?
Separate the property price from the amount you want to borrow. A large mortgage brief should explain the loan, deposit, repayment method and income evidence, alongside the features of the property that a lender and valuer need to understand.
- State the purchase price or value and the proposed borrowing separately.
- Break down basic pay, bonuses, business income and other sources.
- Provide floor plans and details of land, annexes, letting or commercial use.
A £1m+ mortgage starts with the whole funding plan
Separate the property price from the loan requested. A £2m home with a £1.2m loan has a different loan-to-value position from a £2m loan on the same home. Then consider repayment method, the income that will support payments, the cash you want to retain and the property itself. Larger loans can have different limits, pricing and underwriting requirements; a percentage deposit alone cannot establish the terms.
Build your borrowing brief
- Purchase price or valuation, loan required and deposit source
- Salary, variable pay, business income and existing commitments shown separately
- Repayment, interest-only or part-and-part preference, with a reason and repayment plan
- Title, acreage, annexes, mixed use and any planned works
A short outline is enough for the first conversation. Detailed financial records can follow through an agreed secure route.
A question worth resolving early
Does a £1m+ mortgage have to come from a private bank?
No single lender category is automatically best. Depending on the case, mainstream, specialist or private-bank routes may merit consideration. Compare the full cost, flexibility, eligibility and any requirement to place assets with a bank. Jack explains the routes available for your actual circumstances.
Link to this answerJack reviews the borrowing objective and evidence, identifies the routes worth testing and explains the relevant costs and conditions. Your accountant, solicitor or investment adviser addresses their own specialist questions. A lender decision follows its assessment; an introductory conversation is not an offer.
See the detailed illustrative scenarios →Further reading: MoneyHelper: repayment and interest-only explained · Coutts: an example of private-bank mortgage assessment.
Criteria context checked 23 September 2026: Published lender criteria, including director income and interest-only repayment plans. This is an example of one lender’s policy, not a market-wide rule. Current criteria are confirmed for the proposed application.
Make the size and structure work together
The maximum loan for a product may be lower than the lender's general lending capacity. Property valuation, income concentration and liquidity can receive closer scrutiny. We compare a single facility with any proposed split before considering the practical costs.
Large homes, country houses & estates
A substantial family home may include grounds, paddocks, woodland, stables, an annexe or additional cottages. Start with what is being bought, who will occupy each part and how the land and buildings are used. A floor plan and a plan of the whole site help make that conversation specific.
Tell me the approximate acreage, the number of separate buildings and whether there is any letting, farming, equestrian or other business activity. Include separate titles, access arrangements and known restrictions in the brief. The property’s size alone does not establish which lender or finance route is suitable.
For a separate plot, explore land finance. If the purchase combines a home and commercial activity, read about mixed-use property finance. A proposed new home or wider building scheme may also involve self-build mortgages or development finance.
Complex property types
A property can need an individual assessment because of its construction, layout, use or legal structure. Examples to raise at the outset include a listed house, a converted building, an unusual construction method, a self-contained annexe, several titles or a property with a large amount of land.
- The building: construction, age, condition, listing status and any intended alterations.
- The layout: annexes, separate kitchens, additional dwellings and who will live in each part.
- The wider site: acreage, outbuildings, access, separate titles and current or proposed uses.
- The work: any essential repairs, planning documents, cost estimates and the proposed timetable.
An unusual property is not automatically unmortgageable. I start with the feature that needs explaining, then discuss the valuation, legal evidence and lender assessment. Where the condition prevents an ordinary mortgage at the outset, see properties needing works before mortgage finance and refurbishment finance.
For borrowing of £1 million or more
The requested loan and the property price are different figures. Tell me both, along with the deposit or existing equity, the purpose of the borrowing and your preferred repayment approach. A £1m+ enquiry can involve a purchase, a remortgage or capital raising; the structure still needs to work with your income and commitments.
If the wider picture includes businesses, investments or substantial assets, read the high-net-worth and UHNW mortgage pages. For earnings from several sources, see complex income mortgages. If you live overseas, start with the international UK mortgage pages.
The £1m+ description is a starting point for enquiries, not a published lending limit, an approval threshold or a promise of a particular lender. The amount, repayment method and property acceptance are assessed individually.
How I approach the case
We begin with what you want to achieve, your timescale and any part of the case that needs explaining. I review the evidence and suitable lender routes, then explain the available options and their costs. A recommendation follows the individual assessment; an initial conversation does not commit you to an application.
Where legal, tax or other specialist advice is needed, we identify it early so the finance fits the wider transaction. Tell me about any change in employment, borrowing, deposit or property details before proceeding.
What to prepare
- Requested loan and purchase price
- Detailed income evidence
- Asset and liability schedule
- Source of deposit and cash reserves
- Floor plans, acreage and any separate buildings or titles
- Current property use, intended works and planning information
You do not need every document before saying hello. Start with a short outline; detailed or sensitive records should follow through an agreed secure route.
A larger deposit does not guarantee a particular loan size. Underwriting and valuation remain case-specific.
Your questions, answered
How do you explain income that is not a regular salary?
The starting point is a clear account of where the money comes from, how often it is received and whether it is expected to continue. Depending on the circumstances, that may involve accounts, contracts, tax records or a history of variable pay. The evidence must support the figures used.
Link to this answerCan we look at the case before choosing a lender?
Yes. We first identify the income, credit or ownership issue that needs explaining, then assess suitable routes. Tell me about earlier applications and the reasons given for a decline, if known. Repeated applications without understanding the issue can leave the important question unresolved.
Link to this answerWhat makes a useful initial summary?
Outline the property, borrowing required, deposit source and timing. Add a short explanation of the part that is unusual: for example, company profits, a short contract history or a recent change in circumstances. Detailed records can follow through an agreed secure route.
Link to this answerMore questions about your plans
Is a £1 million property the same as a £1 million mortgage?
No. The mortgage is the amount borrowed. A £1 million property with a £300,000 deposit would involve a £700,000 loan before any financed fees, equivalent to 70% loan-to-value. This arithmetic is not an eligibility assessment.
Larger loans & individual properties£1m+ borrowing, substantial homes & landOpen the group to explore the loan, property and project pages relevant to your plans.8 routes +
- Complex property typesAcreage, annexes, outbuildings, mixed use, unusual construction and multiple titles.↗
- Land, acreage & sitesSeparate land purchases, planning, access and the proposed exit.↗
- Mixed-use propertyA property combining residential, business or rental uses.↗
- Development financeLand acquisition, construction, funding stages and project exit.↗
- High-net-worth mortgagesIncome, assets, liabilities and available liquidity.↗
- UHNW mortgagesSubstantial wealth, ownership structures and international circumstances.↗
- Large interest-only mortgagesAffordability, term and a specific repayment strategy for a larger facility.↗
- International HNW mortgagesResidence, currencies, company interests, assets and a UK-property objective.↗
Further reading: MoneyHelper: mortgages and homebuying. Content updated 23 September 2026. General information; availability depends on the individual case.