A guide to large mortgages
Borrowing over £500,000 brings a different set of challenges compared to a standard mortgage. This guide explains how large mortgage lending works, what lenders expect, and how specialist advice can make a real difference to the outcome.
In this guide
What counts as a large mortgage?
There is no universal definition, but most lenders treat mortgages above £500,000 as large or high-value. Some set the threshold at £750,000 or £1 million. At these levels, standard automated underwriting may not apply and your case is more likely to be assessed by a senior underwriter.
The distinction matters because lender appetite, criteria, and pricing can differ significantly for larger loans. Some high street lenders cap their maximum loan at £500,000 or £1 million, while private banks and specialist lenders regularly handle cases of £2 million or more.
Income requirements and affordability
For large mortgages, lenders typically want to see a higher income or significant assets. Standard income multiples of 4 to 4.5 times salary may not be enough, but some lenders offer enhanced multiples of 5 or even 6 times income for high earners or professionals in certain fields.
Complex income is common at this level. Lenders experienced in large mortgages will consider bonuses, commission, share options, dividend income, rental income, and overseas earnings. The key is presenting your income in a way that each lender can work with.
Deposit and LTV considerations
Most lenders will want a larger deposit in percentage terms for high-value properties. While 90% or 95% LTV products exist for standard purchases, large mortgage lenders typically require at least 20% to 25% deposit, though some will go higher for the right client.
The deposit also needs a clear source. Lenders will want to see evidence of savings, property sales, investments, or other legitimate sources. If part of the deposit is a gift, the usual declarations and anti-money-laundering checks apply.
Why specialist advice matters
At this level, the difference between a good and average mortgage deal can save you thousands of pounds per year in interest. A broker with experience in large mortgages will know which lenders offer the best rates, the most flexible criteria, and the fastest service.
They can also help you structure the borrowing in the most tax-efficient way, whether that means borrowing personally, through a limited company, or using an offset arrangement. Interest-only mortgages are also common at this level and worth exploring. Getting the structure right from the start can save significant sums over the life of the mortgage.
Related guides
More guides in our large mortgages mortgage hub.
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