Million Pound Mortgages
Arranging a million-pound mortgage can require more thought than a standard affordability calculation from a high-street lender. Anderson Harris advises clients borrowing £1m and above on how to structure a bespoke high-value mortgage for prime UK property, particularly when income is complex or when the loan size challenges underwriting norms. Our high-value mortgage advice is designed for buyers who need clear guidance, fast access to lenders, and a realistic assessment.
Our clients typically fall into one of the following categories.
They’re planning to buy with a £1m+ loan for a high-value property
Their income is complex, including bonuses, dividends or self-employed earnings
They are purchasing in London or prime UK locations
They require discrete, trustworthy advice from a team of specialists
What is a Million-Pound Mortgage?
A ‘million-pound mortgage’ has become a defined industry product worthy of special attention because, typically, it sits outside standard retail lending in terms of underwriting depth, documentation requirements, and lender scrutiny. At this high-value level, lenders make a much closer assessment of income sustainability, credit profile, liquidity and property type and condition.
The process of finding the right £1M mortgage product and the subsequent application process can seem longer and more drawn-out than lower-value transactions. The approach differs because decision-making for high-value mortgages is often made on a case-by-case basis, with fewer cost-saving check-box exercises and formulas at work. Planning, preparation, and expert advice can prove invaluable when searching for the best mortgage options over £1 million.
It’s important to note that high-value lending is still regulated. As an ethical high-value and complex income mortgage broker, we advise our clients on fully regulated UK mortgage products, offered by established lenders.
How Million-Pound Mortgages Are Assessed
Risk is assessed differently for high-value loans. The market means lenders can rely less on the rigid multiples and ‘checklist’ lending criteria you might see for lower-value products in the retail banking sector.
Income Assessment
For million-pound mortgages, lenders are likely to assess a wide range of income sources, including basic salary, annual and discretionary bonuses, dividend income, retained profits within trading companies and commission or performance-related pay. At this level, it pays to spend time finding a lender with products that match your income profile.
Affordability & Stress Rates
Large mortgage loans are typically assessed against conservative stress rates. Lenders want confidence that repayments remain manageable even if rates rise or income fluctuates. This is something you can plan for with the right professional advice.
Credit Profile & Obligations
Any lender of a mortgage over £1 million will want to review a potential borrower’s past track record and current commitments in detail. They will need a complete picture of existing borrowing and financial obligations. Being fully transparent and having evidence to hand can lead to a smoother, stress-free transaction.
Cash & Liquidity
For a million-pound mortgage, demonstrating cash reserves and access to liquidity to a prospective lender can significantly strengthen an application. It pays to have a complete picture of your financial situation before talking to lenders.
LTV & Deposit Ranges
Once you start looking for a million-pound mortgage, it will soon become clear that they sit at lower loan-to-value levels than standard high street loans. Deposit requirements vary, but it is undeniable that more substantial equity will unlock better lender choice and pricing.
Underwriting & Documentation
For a mortgage in excess of a million pounds, assessment and underwriting are typically more detailed and relationship-based than a simple off-the-shelf high street offer. This means prospective borrowers should expect more scrutiny than a simple tick-box exercise. Working with a million-pound mortgage broker, such as Anderson Harris, prior to engaging with lenders can prove invaluable for high-value individuals. For example, before approaching, we are likely to ask for the following from our clients;
Payslips and bonus history
Company accounts and dividend records (if applicable)
Asset and liability summary
Property details and purchase strategy
Once we understand your circumstances, we can assess the market for the right million-pound mortgage package for you and your goals.
Lender Options For High-Value Borrowing
Independent advice from a mortgage adviser can help you navigate through the whole mortgage marketplace to choose a product that offers the best value. It’s worth noting that brokers often have access to deals and rates unavailable to customers directly. Example lenders include;
High-Street Large-Loan Teams
Some recognisable mainstream banks have specialist teams for large mortgages. These can offer a range of products ideally suited to borrowers with straightforward income cases and strong credit profiles.
Specialist Lenders
If, on the other hand, income cases are complex, it may be that the High Street banks cannot help. Here, brokers can often call on specialist lenders. Their offers can depend on the buyer profile or, in some cases, property type. Either way, if the requirement falls outside standard lending criteria, all may not be lost.
Private Banks
Private banks often suit high-net-worth borrowers looking to borrow in excess of a million pounds. Due to their attitude to risk and reward, private banks can afford to take a broader view of affordability and, as a result, lend money on a more bespoke footing based on the client’s wider financial position.
City Professionals With Bonus Income
Senior professionals and executives can have a relatively modest base salary but a substantial additional income through annual or discretionary bonuses, commissions or performance-related pay schemes. The irregular nature of this remuneration can limit options with some lenders. The good news is, we can help structure million-pound mortgages that take a sensible view of bonus income, ensuring borrowers don’t miss out.
Company Directors & Self-Employed Workers
Business owners, directors, and the self-employed frequently draw income from sources other than a traditional PAYE salary. This can make a £1m mortgage harder to secure without specialist advice. The good news is our team of mortgage advisers can find lenders who understand that borrowing can be assessed more broadly than narrow PAYE figures alone.
Portfolio Landlords With High-Value Borrowing
Experienced landlords often require large mortgage loans to refinance existing assets, release capital or fund further purchases. At higher values, lenders assess portfolio performance, rental coverage and overall exposure in detail. We help portfolio landlords structure their high-value borrowing efficiently.
Buyers Purchasing Prime Central London Property
High-value properties in central London can present additional challenges for borrowers. Often, lenders in these cases focus on property type and condition in their lending criteria and affordability assessments, leaving even strong applications subject to additional scrutiny.
London-based Anderson Harris is ideally placed to advise buyers in positioning an application to reflect both property quality and long-term affordability. A proactive approach, shaped by regional expertise, helps transactions progress, avoid common pitfalls and minimise delay.
If your situation doesn’t fit neatly into a standard category, that’s not a problem. In fact, we add the most value when we help clients face a unique set of circumstances. Why not speak to a million-pound mortgage adviser to discuss your plans?
Common Scenarios We Handle
As experienced million-pound mortgage brokers, we know offers are rarely uniform. Even where loan sizes are similar, the underlying circumstances can differ significantly. We regularly advise clients whose income, assets or purchase plans require a more considered lending strategy than a standard application route can offer. To help illustrate our involvement, we have shared some examples of million-pound mortgage scenarios below.
Common Structures & Features
Mortgages over £1 million in value are rarely off-the-shelf. Most high-value products are structured with flexibility in mind, balancing affordability, efficiency and long-term success. However, common features include;
Interest-only or repayment options
Fixed or tracker rates
Offset or cash-linked structures
Lending supported by assets
Multi-property or portfolio lending
Choosing the ideal structure for a million-pound mortgage is about more than rate comparison. Independent advice ensures the mortgage supports your wider financial position, not just the purchase itself.
Arranging A Million-Pound Mortgage
Securing a £1m+ mortgage requires preparation, lender insight and clear communication. Our role is to guide you through the process while ensuring your application is positioned correctly from the outset. To help, we’ve developed a step-by-step process that has proven successful over many years.
Initial Discovery
We begin with a detailed conversation to understand your income sources, assets, commitments and property plans. This allows us to identify potential challenges early and shape a realistic borrowing strategy.
Market Review
Once we have a clear view of your circumstances, we can search for lenders that are genuinely suitable. This may include high-street large-loan teams, specialist lenders or private banks, depending on complexity and structure.
Fact Find & Feedback
Before any formal submission, we deep dive into the details and provide clear feedback on expected terms, documentation requirements and timescales. This ensures you can proceed with confidence before making an offer.
Property Search & Application
We manage the application process end-to-end, coordinating the paperwork, responding to lender queries and keeping the transaction moving as efficiently as possible.
Legals, Insurances, Oversight & Review
H3 Legals, Insurances, Oversight & Review Our involvement continues through to completion and beyond. Many clients return for refinancing, other short-term bridging loans, restructuring or further purchases as circumstances evolve.
Million-pound mortgages take time and careful handling. While no two cases are identical, you can be confident we’ll act on your behalf throughout, providing clarity at every stage and avoiding unnecessary delays.
FAQs
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Income calculations depend on income type, stability and lender criteria. Large mortgages are often assessed individually rather than using simple multiples
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Deposit requirements vary, but a higher deposit will generally provide more lender choice and better terms.
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Yes. Many lenders will consider bonus income, particularly where there’s evidence of a solid track record.
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Yes, subject to suitability and a credible repayment strategy.
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Sometimes, but the real benefit is flexibility and structure rather than headline pricing.
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The process of applying for a million-pound loan may be more detailed and time-consuming, but not necessarily harder. Preparation and advice make a significant difference.
Speak To A Million-Pound Mortgage Adviser
Large mortgages demand experience, lender access, clear judgment and an eye for detail. It’s also often the case that high-net-worth individuals require discrete professional service. Anderson Harris’s London-based team provides straightforward advice for clients borrowing £1m and above, with particular strength in complex income scenarios and prime UK property.
If you’re in the market for a million-pound mortgage in London or anywhere in the UK, why not speak to an adviser who understands how high-value lending really works?
Speak To A Private Bank Mortgage Adviser
Successfully obtaining a private bank mortgage requires judgement, access and experience. As an established, proven high-net-worth mortgage broker, Anderson Harris provides discreet, straightforward advice and direct access to UK private banks. If you’re considering a private bank mortgage in London or anywhere in the UK, speak to an adviser who understands how these lenders really work.
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