Buying a £10 million–plus property in London places you in one of the most specialised corners of the UK mortgage market. These transactions rarely follow mainstream lending rules. Instead, they depend on a combination of private bank appetite, asset-backed underwriting, complex income assessments and a tailored financial case that aligns with the expectations of high-value lenders. In 2025, securing large mortgages requires more preparation and strategic positioning than ever before.

Prime Central London continues to attract domestic and international buyers, particularly in areas such as Knightsbridge, Belgravia, Mayfair, Chelsea and St John’s Wood. Yet the profiles of these buyers often include global income, cross-border assets, investment holdings, variable earnings, carried interest, or company ownership—none of which fit neatly into mainstream affordability models. This is why the pathway to financing a £10m+ home in London typically involves private banks or specialist lenders rather than high street institutions.

The luxury market has also become more analytically driven. Lenders are more cautious about valuations, more detailed in compliance checks and more selective about borrower profiles. This shift has reinforced the need for expert structuring. Even financially strong clients require a well-presented case to access competitive terms.

Willow Private Finance frequently arranges £5m–£20m+ mortgages for high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients buying major London homes. This includes borrowers with multi-jurisdictional income, complex corporate backgrounds, investment-driven earnings and non-standard documentation.

The Prime London Lending Landscape in 2025

The lending environment for £10m+ homes has evolved materially in the past two years. Base rate fluctuations, global economic uncertainty and heightened regulatory scrutiny have created a more selective and bespoke lending climate. Mainstream banks cap exposure well below these levels, meaning private banks dominate this segment.

Private banks are influenced by global wealth flows. London’s role as an international hub keeps demand strong among buyers from the Middle East, North America, Europe and Asia. These borrowers often hold assets offshore, receive income in foreign currencies, or own global businesses. Private banks understand this complexity, but they also apply strict due-diligence standards around source of wealth, tax residency, wealth origin and liquidity.

Valuations are another significant feature of 2025 lending. Properties above £10m often have fewer comparables, making valuers more conservative. Minor discrepancies can have a large absolute impact. Lenders pay close attention to refurbishment needs, long-term resale liquidity and local transaction volumes, all of which influence the final loan size.

The market remains active but discerning. Borrowers able to demonstrate strong liquidity, diversified assets and transparent financial structures will find substantial appetite from lenders. Those who rely on irregular income, complex entities or offshore arrangements must present their financial position clearly and strategically.

How £10m+ Mortgage Structuring Works

A mortgage on a £10m+ London home is rarely a standard residential loan. It is a wealth-backed, relationship-led structure that reflects the borrower’s full financial ecosystem. Income alone does not determine borrowing capacity. Instead, lenders examine assets, liquidity, global financial stability, and long-term wealth planning.

For many borrowers, interest-only mortgages are the preferred solution. They provide maximum liquidity and align well with clients whose wealth grows through investments, business ownership or carried interest rather than through linear salary increases. Lenders look for a credible repayment strategy, often linked to asset sales, future distributions, investment maturities or corporate liquidity events.

Private banks also place significant weight on the client’s total asset picture. A borrower with a modest salary but large liquid portfolios, retained profits or international property can be considered as strong—if not stronger—than a client with high PAYE income but limited wealth diversification. This is a fundamental difference from high street underwriting, which prioritises monthly affordability over overall financial resilience.

Banks often request detailed asset summaries, structured income evidence, multi-year track records and documentation covering global interests. For borrowers with trusts, SPVs or corporate ownership, clarity of structure is essential. The more comprehensively the client’s wealth picture is presented, the more competitive the lending terms become.

What Lenders Expect When Financing £10m+ London Homes

The requirements for these large mortgages fall into a predictable framework centred around liquidity, sustainability, transparency and asset strength.

Liquidity is one of the core requirements. Private banks look for immediate access to capital that can support mortgage commitments in adverse conditions. This may include investment portfolios, corporate reserves, or personal cash. Clients purchasing £10m+ homes typically demonstrate seven-figure liquidity without needing to liquidate assets.

Sustainable income is also essential, although defined differently than in mainstream lending. Private banks use multi-year patterns to assess income—especially for partners in investment firms, business owners, or individuals with fluctuating income cycles. They consider carried interest schedules, bonus patterns, partnership drawings, long-term contract income and global revenue streams.

Lenders also assess the client’s broader wealth position. A borrower with diversified international assets, equity holdings and investment portfolios presents a lower risk profile than someone with concentrated wealth. The aim is to ensure long-term stability rather than simply verifying affordability.

Finally, lenders require complete transparency around wealth structures. Borrowers with offshore companies, multi-layered corporate entities, international trusts or investment partnerships must provide documentation that traces income and assets clearly. Compliance and AML standards in 2025 are extremely thorough, meaning well-organised documentation is critical.

Challenges Borrowers Face When Seeking £10m+ Mortgages

Even very financially strong buyers can face challenges when securing a loan of this size. One of the most common issues is income misinterpretation. High-earning individuals such as private equity partners, hedge fund managers, entrepreneurs or international executives often have income that is irregular or realised through asset distributions. If not properly structured and explained, this can be misunderstood by lenders unfamiliar with complex earnings.

Documentation volume is another challenge. Large loans require detailed evidence across personal and corporate finances. Global assets, overseas accounts, offshore companies, and multi-currency income all require documentation, translation and verification. Delays occur when borrowers underestimate the depth of detail required.

Valuation issues are also common at this price point. Luxury homes can be highly unique, making valuers cautious. A valuation that comes in lower than anticipated can impact loan size significantly. This risk is one reason many clients engage Willow early to coordinate valuation strategies.

Many private banks also link lending with assets under management (AUM). While negotiable, this can be unfamiliar for borrowers used to mainstream banking. Understanding how to balance AUM expectations with lending terms is essential.

International buyers face additional challenges including AML scrutiny, tax residency verification, foreign income analysis and FX risk assessment.

How to Strengthen Your Application for a £10m+ Mortgage

Successful applications share a common theme: they present a clear, polished, comprehensive financial narrative. Borrowers should prepare a structured summary of their assets, liabilities, income sources, liquidity and long-term financial commitments. A compelling narrative can significantly accelerate approvals.

Income documentation should reflect the true structure of earnings. Multi-year histories, carried interest projections, dividend patterns and accountants’ commentaries are all useful. The aim is to demonstrate consistency, even when income is variable.

Liquidity should be evidenced with clear statements. Lenders prefer granularity, showing where funds are held, how accessible they are, and whether they are influenced by market fluctuations. Borrowers with multiple asset classes benefit from demonstrating stability across the portfolio.

Early valuation guidance is essential for £10m+ purchases. Willow often arranges informal discussions with valuers ahead of formal assessments to align expectations and anticipate potential shortfalls.

For clients considering private banks, understanding the role of AUM can create a strategic advantage. Placing assets—fully or partially—can unlock lower rates, higher LTVs or more flexible structures.

Hypothetical Scenario

A senior partner at a global private equity firm secured an £8m loan for a £12m Knightsbridge home using a structure based on carried interest, multi-year bonus averages and a detailed projection of future distributions. The lender approved interest-only terms supported by a six-figure liquidity reserve.

In another scenario, a technology entrepreneur with substantial business equity but modest salary secured a mortgage on a £10.5m property after the lender evaluated corporate performance, investment holdings and available liquidity across multiple jurisdictions.

A UHNW family relocating from the Middle East secured a £9m mortgage for a £15m Mayfair apartment after demonstrating clear source-of-wealth documentation, long-term corporate income and substantial liquid reserves held overseas.

These generalised cases underscore the bespoke nature of financing homes at this level.

Outlook for London’s £10m+ Mortgage Market

Looking ahead, lenders are expected to continue prioritising borrowers with diversified wealth and clear financial stability. Interest-only structures will remain popular, while hybrid arrangements will grow for borrowers preparing for future liquidity events. Although regulatory scrutiny will remain high, the availability of specialist and private bank solutions means well-qualified borrowers will continue to access competitive terms.

London’s luxury property market remains globally attractive, and lenders—both domestic and international—continue to view high-quality borrowers in this segment favourably. Strategic preparation will remain the key advantage.

How Willow Private Finance Can Help

Willow Private Finance specialises in arranging £5m–£20m+ mortgages for clients buying ultra-prime London homes. Our expertise spans private bank relationships, asset-backed lending, international income structuring, and complex financial analysis. We prepare lender-ready financial presentations, coordinate valuation strategy, negotiate bespoke terms and manage multi-jurisdictional documentation.

Our clients include entrepreneurs, private equity partners, global executives, investment professionals and UHNW families seeking tailored, discreet and effective mortgage solutions. We ensure your financial circumstances are presented accurately and strategically to secure the strongest terms available.

Frequently Asked Questions

Q1: What deposit is required for a £10m+ London property?
Most private banks lend between 60–70% LTV, depending on liquidity and overall wealth profile.

Q2: Will lenders accept carried interest or bonus income?
Yes. Many private banks specialise in underwriting variable income and use multi-year patterns.

Q3: Can overseas income support a £10m+ mortgage?
Yes, provided income is well documented and FX risk is assessed appropriately.

Q4: How important is liquidity for large mortgage approvals?
Extremely important. Private banks prioritise immediate liquidity when assessing risk.

Q5: Do lenders require AUM transfers for £10m+ lending?
Some do, some don’t. AUM can improve pricing or flexibility but is not always mandatory.



Q6: How long does it take to secure a mortgage of this size?
Typically 6–12 weeks depending on documentation, valuation scheduling and compliance requirements.

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