Million Pound Mortgages – Expert Advice

In 2025, million pound mortgages are essential for professionals, investors, and high-net-worth individuals buying luxury UK properties, especially in London’s prime market. As a leading million pound mortgage broker, Fox Davidson secures the best rates from across the mortgage market, tailoring solutions for complex incomes and high-value homes.

Whether you’re a surgeon upgrading your residence, a business owner expanding a portfolio, or an international buyer, we ensure competitive terms and seamless approvals.

Fox Davidson are a specialist UK mortgage broker. Call or send us an email to discuss your mortgage requirements in confidence with an FCA regulated mortgage broker.

What Are Million Pound Mortgages?

A million pound mortgage is a loan of £1,000,000 + secured on a residential or commercial property. These high-value loans require bespoke underwriting and incomes of £180,000-£250,000+ or significant assets.

Unlike standard mortgages, they cater to affluent borrowers with complex financial profiles, offering flexibility through high street banks or private lenders.

Why Fox Davidson?

Our market access including high street lenders, private banks and funds coupled with our experience and and expertise deliver tailored deals, saving you thousands in interest. Contact us for a free consultation to explore your £1M+ mortgage options.

Who Qualifies for a Million Pound Mortgage?

  • Income: £180,000-£250,000+ annually; lenders offer 4.5-6x multiples (e.g., £200,000 income = up to £1.2M loan). Professionals (e.g., doctors, barristers) may get higher multiples.
  • Income Types: Salary, bonuses (2-3 years’ proof), dividends, rental income, foreign currency (10-25% haircut for exchange risks).
  • Deposits: 5% minimum, larger deposits secure better rates.
  • Credit: Strong history required; specialist lenders consider complex cases.

Self-employed or international buyers? We navigate intricate finances to secure approval.

Mortgage Types for High-Value Properties

With a plethora of options, we will work with you to choose the best structure for your £1M+ loan:

  • Fixed-Rate: Lock in fixed price money for 2-10 years for payment certainty.
  • Tracker/Variable: Follows Bank of England base rate often with no early repayment charges
  • Interest-Only: Lower payments but needs a repayment plan (e.g., investments, property sale). Often requires 25%+ equity.
  • Part-and-Part: Blend repayment and interest-only for balanced flexibility.
Mortgage TypeMonthly Payment (e.g. £1M, @ 4%)Best For
Fixed Repayment£5,278Budget
Interest-Only£3,333Investors
Part-and-Part£4,500Flexible

Mortgage Repayment Calculator

Estimate your monthly payments for a million-pound mortgage with our free tool. Input your loan amount, interest rate, and term to see results instantly. Contact Fox Davidson for tailored mortgage advice.

CALCULATOR:
Mortgage Required:
£
Interest Rate:
%
Repayment Period:
Years

RESULTS:
Monthly Payment:
£
Monthly Interest:
£

What are the fees for a Million Pound Mortgage?

Beyond the deposit, budget for:

  • Stamp Duty: Consider surcharge for second properties
  • Fees: Solicitors fees, Valuation, Lender arrangement fee (may be added)

High Street vs. Private Lenders

  • High Street Banks: Competitive rates for simple cases; rigid criteria, cap at £1-5M.
  • Private Lenders: Flexible for complex incomes, foreign earnings, or unique properties; faster approvals, bespoke terms. Lending to £50M +

We consider and compare both to find the best solution for you.

Buy-to-Let Million Pound Mortgages

For investment properties:

  • Rental Income: Must cover 125% of payments (e.g., £4,000 rent covers ~£3,200 interest-only).
  • Deposits: 25%
  • Tax: 3% stamp duty surcharge (£30,000 on £1M); limited interest relief.

We specialise in portfolio landlord solutions on both residential and commercial property across the UK.

International and Expat Applicants

Foreign nationals and UK expats are well served by private banks who can lend up to high loan to values. International clients may require extra documentation (e.g., overseas credit reports, tax returns). Specialist lenders ease foreign income hurdles, applying 10-25% haircuts for currency risks. We streamline approvals for global clients.

Why Choose Fox Davidson as Your Mortgage Broker?

  • Market Access: Compare 100+ lenders for the best million pound mortgage rates.
  • Expertise: Handle complex incomes, HNW needs, and international cases.
  • Free Consultation: No fees on lender-paid commissions.
  • Support: Ongoing advice for remortgaging, portfolio growth, rate switches.

Case Study: £2M Part & Part Mortgage For Architect in Hertfordshire

How to Apply for a Million Pound Mortgage

  1. Assessment: We review income, assets, and credit.
  2. Documentation: Gather proof of income, assets, and ID.
  3. Lender Matching: We submit to suitable lenders.
  4. Valuation & Approval: Lender evaluates property and finances.
  5. Offer & Completion: Review terms and finalize.

2025 Market Trends

  • Rates: Base rate in downtrend, likely stabilising at 4% September 2025
  • Competition: Private and fintech lenders offer flexible terms.
  • London Demand: Prime areas drive £1M+ loans; balanced market aids buyers.
  • Regulations: Relaxed affordability rules; Energy efficiency property focus.

FAQs: Million Pound Mortgages

What are the monthly payments on a £1 Million mortgage?

The payments on a £1 Million pound mortgage depend on the rate of interest. For a 3% rate of interest the payments are £2,500 on an interest only basis. On a repayment basis over 30 years the payments are £4,216. Use a mortgage calculator to get your exact monthly payment.

How much do I need to earn to afford a £1 million house in the UK?

To afford a million pound mortgage you would need to earn upwards of £180,000. The amount you need to earn will depend on the deposit you can put down on a £1 million house.

How much deposit is required for a £1 million mortgage?

Lenders will typically need anywhere between 25% to 10% deposit on a £1 Million pound property.

Can I get an interest only £1 million mortgage?

Yes, mortgage lenders will offer interest only on a £1 Million pound mortgage. You must have the means to repay the mortgage at the end of the term, which is acceptable to the lender

Which lenders offer £1 million mortgages?

Many of the high street bank and building societies will lend £1 million, such as Halifax, Nat west & Clydesdale Bank. Many private banks offer bespoke lending terms for large loans. To secure the best terms you should speak to a mortgage broker.

Is it harder to get a £1 million mortgage compared to a smaller one?

No, lenders assess each case on its own merits and apply affordability rules. If your income is sufficient then any loan amount is possible.

Can I get a £1 million buy to let mortgage?

Yes, buy to let lenders will lend over and above £1 million. £1 million buy to let mortgages are offered by specialist buy to let lenders and private banks.

Discuss Your Million Pound Mortgage Today

A million pound + mortgage demands expertise. Fox Davidson delivers tailored solutions, competitive rates, and unmatched support for high-value properties. Contact us now for a free consultation to achieve your property goals and save thousands.

Fox Davidson are a specialist UK mortgage broker. We work with international and UK resident clients to secure funding on residential & commercial property in the UK. We can work by phone, email and video call. We have London & South West offices at which we can meet clients.

Read our latest mortgage & property insights