A million pound mortgage is residential or investment property borrowing of £1 million or more, secured against UK property. Lending at this scale sits largely with private banks and specialist lenders rather than the high street, and is underwritten on your full financial position — income, assets and business interests — rather than a standard income multiple.
Key facts
- What it is: mortgage lending of £1 million and above, for a main residence, a second home or an investment property.
- Why it is different: many high-street lenders cap individual products at around £1m (some to roughly £1.5m); above that, lending moves to private banks and specialist lenders.
- Who lends: private banks — whose minimum loan sizes are commonly stated in the region of £1m–£3m and upwards — alongside specialist lenders that do not publish standard rate cards.
- Underwriting: at this scale, lenders frequently assess your overall wealth — income, savings, investments and other assets — rather than a single income figure.
- The high net worth route: UK mortgage rules recognise a high net worth category — broadly, net assets of at least £3 million or annual net income of at least £300,000 — which can allow a lender to take a more tailored approach to affordability.
- Regulation: a mortgage on a home you live in is FCA-regulated. Your home may be repossessed if you do not keep up repayments on a mortgage secured on it. Lending for investment or business purposes may be unregulated.
How a million pound mortgage works
Mechanically, the loan is the same as any other mortgage: borrowing secured against property, repaid over a term. What changes at £1 million is the market around it. Many mainstream lenders cap their products at or near this level, and a high-value property is, by definition, affordable to fewer buyers — which affects how readily a lender judges it could be sold if it ever needed to be. The result is a smaller field of lenders, most of whom underwrite each case individually rather than against a fixed affordability model.
That individual underwriting is usually good news for the borrower. If you are borrowing at this level you will often hold wealth in more than one form — salary and bonuses, dividends, retained company profits, investment portfolios, other property — and a lender able to weigh the whole picture can get comfortable with a case that a standard income-multiple calculator would decline.
The three routes at this level
The top end of the high street. A small number of mainstream lenders will consider loans around the £1m mark on standard terms. Where a case fits, this can be the simplest route — but the criteria are rigid, and a complex income or an unusual property usually rules it out.
Specialist lenders. Built for cases that need individual assessment: self-employed income, recent company profits, internationally held wealth or higher-value security. Terms are decided case by case rather than from a published rate card.
Private banks. For larger loans, a private bank can lend around a wider relationship — investments, business interests and assets in the UK and abroad. Many prefer not to dry lend (lend with nothing else attached) and look for a broader relationship, for example assets under management or deposits held with them. Access is rarely direct: these banks typically work through trusted introducers, which is where a specialist broker comes in.
The high net worth route
UK mortgage rules recognise a high net worth category — broadly, individuals with net assets of at least £3 million or annual net income of at least £300,000. Where you meet a lender's criteria, the underwriter can apply certain affordability requirements more flexibly and assess the case on your whole balance sheet. It is not a way around regulation, and qualifying does not guarantee a particular loan amount, rate or loan-to-value — the outcome is always case-specific and decided by the lender. Our high net worth mortgage page covers this route in detail.
Why borrowers use a specialist broker
Above the high street's caps, lenders rarely publish standard terms and often prefer to engage through brokers. The way a case is framed — how income is evidenced, how assets are presented, which lender is approached and why — materially affects the outcome. Propertyze works across a panel of more than 135 lenders, including private banks and specialist providers, and structures each case to put the strongest version of your position forward. Where the loan runs well past £1 million, our large mortgage loan and private bank mortgage services cover the same ground at greater scale.
Frequently asked questions
How much can I borrow on a million pound mortgage?
There is no fixed ceiling — large loans can run well into the millions and beyond. What is available depends on the property, your overall financial position and the lender. Most high-street products cap at around £1m–£1.5m, so larger loans move to private banks and specialist lenders.
What deposit do I need for a million pound mortgage?
There is no fixed answer. Loan size, loan-to-value and deposit all depend on the lender, the property and the strength of your overall position. Some lenders can take wider assets into account when assessing a case. We will give you a realistic view once we understand your circumstances.
What rate will I pay on a million pound mortgage?
Lenders at this level rarely publish standard rate cards; terms are negotiated case by case, and the way a case is structured and presented materially affects the outcome. We will tell you what is realistic for your circumstances before you commit to anything.
Can I get a million pound mortgage if I am self-employed?
Yes. Income from self-employment or a limited company — including retained profits and ongoing profitability — can be used, assessed through your accounts. You do not necessarily need to have drawn the income personally. Outcomes depend on the lender and the figures.
Do private banks expect a wider relationship?
Many private banks prefer not to dry lend (lend with nothing else attached) and look for a broader relationship — for example assets under management, investments or deposits held with them. Where that does not suit you, we can approach lenders that take a different view.
Talk to an adviser
Tell us about the property, the loan you need and how your wealth is held, and we will set out the realistic routes. Call 020 7126 8574 or request a call back — we aim to reply within one working day.
Your home may be repossessed if you do not keep up repayments on a mortgage secured on it.
Propertyze is a trading style of City Finance Brokers Ltd, authorised and regulated by the Financial Conduct Authority, FCA No. 766295. We conduct both regulated and unregulated business, so not all products we arrange are regulated by the FCA.
Related specialist lending
High net worth mortgages · Large mortgage loans · Private bank mortgages · International mortgages