Large Mortgage Loans: How to Secure £2m–£10m+ Property Finance

Securing a £2m, £5m or £10m mortgage is not simply a question of multiplying the rules used for an ordinary residential loan. As borrowing moves into seven and eight figures, the lender pool changes, underwriting can become more individual and the relationship between income, assets, liquidity, loan-to-value and repayment strategy becomes increasingly important.

A borrower purchasing a £4m London property with a £2m mortgage may have access to a very different market from someone purchasing a £12m property with £8m of debt. Both are large mortgages, but they are not necessarily private-bank cases for the same reasons, nor will the same lenders necessarily be competitive for both.

The complexity increases further when the borrower is an entrepreneur, partner, investor or international client. A substantial mortgage may need to be supported by bonuses, retained company profits, foreign income, investment assets, property wealth or a future liquidity event rather than a single predictable PAYE salary.

The objective should therefore be to identify the lender and structure that fit the complete transaction, rather than simply search for the highest advertised maximum loan.

What Counts as a Large Mortgage?

There is no universal mortgage-industry threshold at which a loan officially becomes a “large mortgage”. The term is normally used descriptively for borrowing that sits above standard residential lending limits or requires dedicated high-value underwriting.

For practical purposes, £1m-plus lending is already treated differently by some banks, while borrowing of £2m and above is firmly within the large-loan market. As requirements move towards £5m and £10m, the number of suitable lenders typically narrows and specialist or private-bank underwriting becomes increasingly relevant.

This does not mean that every £2m mortgage needs a private bank. Some mainstream banks have substantial large-loan capacity, particularly where the client has straightforward high income, a strong deposit and conventional property security.

Conversely, a smaller loan can still require private-bank or specialist underwriting if the client's financial circumstances are sufficiently complex. Loan size is therefore only one dimension of the case.

These bands are not formal lender categories. They illustrate how the character of the lending market can change as mortgage requirements increase.

How Do You Secure a £2 Million Mortgage?

A £2m mortgage is substantial, but it does not automatically require an exotic structure.

For a borrower with strong PAYE income, a conventional prime property and a meaningful deposit, there may be options among mainstream banks as well as specialist HNW lenders and private banks. The comparison should include rate, fees, affordability, maximum LTV, interest-only availability and how the lender treats any variable income.

This matters because two borrowers requesting exactly the same £2m loan can require completely different lenders.

A partner in a professional firm receiving stable drawings may fit one lender well. A technology founder with modest personal drawings but a highly profitable company may need a lender capable of looking beyond salary and dividends. A senior executive whose remuneration is heavily weighted towards bonus and equity can present another underwriting problem entirely.

What Changes When You Need a £5 Million Mortgage?

At £5m, the lending exercise becomes more sensitive to individual bank appetite.

Some lenders can write facilities at this level but impose lower maximum LTVs as loan size increases. Others may be comfortable with the amount but require a particular income profile. Private banks may have greater flexibility around complex remuneration, while specialist lenders can be attractive where the case does not justify or suit a broader private-banking relationship.

The cost of small differences also becomes more significant. A 0.25 percentage-point difference in interest rate on £5m equates to £12,500 of interest over a year before considering capital repayment, fees or changes in balance.

Arrangement fees can also become substantial when calculated as a percentage of the loan. The comparison should therefore consider the complete cost and structure rather than the headline mortgage rate in isolation.

At this level, borrowers are also more likely to consider whether the facility should be fully repayment, fully interest-only or split between the two.

Can You Get a £10 Million Mortgage?

Yes. The UK high-net-worth lending market includes institutions capable of providing residential mortgage facilities at or above £10m, subject to the borrower, property and structure.

For example, Investec currently states that its residential mortgage range typically lends up to £10m and may consider higher amounts. Its published criteria also include a minimum £1m borrowing amount, interest-only and part-and-part options, and holistic consideration of the client's income profile. :contentReference[oaicite:0]{index=0}

That provides a useful illustration of how the large-loan market differs from standard mortgage lending. The question is no longer simply whether a computerised affordability model produces the required figure. Individual credit assessment can become more important, particularly where the client's income and wealth are complex.

A £10m mortgage may involve a substantial property, but the bank will also want to understand the client's complete balance sheet: liquid investments, business interests, property holdings, liabilities, income, future liquidity and the intended repayment of the debt.

A £10m Net Worth Does Not Automatically Support a £10m Mortgage

Net worth and mortgage affordability should not be confused.

A client may own a company worth £15m but have relatively little liquid wealth outside the business. Another may have £8m in a diversified investment portfolio and substantial recurring income. A third may own £20m of property but already carry significant debt against it.

Each has substantial wealth, but the lending analysis is very different.

Lenders therefore consider not just the headline value of assets but their liquidity, volatility, ownership, existing security and whether they genuinely provide resilience or a credible source of mortgage repayment.

How Much Deposit Do You Need for a £2m–£10m Mortgage?

There is no single deposit requirement for a large mortgage.

Loan-to-value limits vary according to lender, mortgage size, property, borrower profile and product. Some lenders reduce their maximum LTV as borrowing moves through different loan-size bands, while selected HNW lenders can consider higher leverage where the overall case is strong.

Investec, for example, currently states that it can in some cases offer residential mortgages up to 95% LTV, while its published proposition typically lends up to £10m and may consider higher. That should not be interpreted as meaning every £10m case is available at 95% LTV; the actual loan and LTV remain subject to individual underwriting. :contentReference[oaicite:1]{index=1}

This distinction is crucial. A lender's maximum loan size and maximum LTV are not necessarily available simultaneously.

Should a Wealthy Borrower Use a Bigger Deposit?

Not necessarily.

An HNW borrower may be perfectly capable of contributing another £1m to a property purchase but prefer to retain that capital within a business or investment portfolio. The question then becomes whether the financial benefit of keeping the capital elsewhere justifies the additional mortgage cost and risk.

That is a broader financial decision and may require input from the client's investment, tax or other professional advisers. From the mortgage perspective, Willow can establish how the available lender set and pricing change at different LTVs.

For example, comparing a £4m mortgage at one LTV against a £3.5m mortgage at a lower LTV can reveal whether the additional £500,000 of retained liquidity is expensive or relatively efficient to preserve.

How Is Income Assessed on a Large Mortgage?

Income becomes one of the most important reasons to compare different types of lender.

A borrower earning £750,000 entirely through PAYE salary is relatively straightforward to understand. A borrower receiving the same total remuneration through £200,000 salary, £250,000 annual bonus, deferred stock, partnership distributions and carried interest can look very different inside a conventional affordability model.

Some HNW lenders explicitly take a broader approach. Investec states that it assesses clients' full financial profiles and can consider bonuses, carried interest and profit-share income rather than looking only at basic salary. :contentReference[oaicite:2]{index=2}

This does not mean every form of income will be accepted in full. Lenders can examine history, sustainability, currency, contractual status and the probability that income will continue.

Business Owners and Retained Profits

Entrepreneurs frequently encounter a different problem: their personal taxable income may be deliberately low relative to the economic strength of the business they own.

A profitable company may retain cash for investment, acquisitions, stock or working capital rather than distribute all available profit as dividends. A lender focused only on salary and dividends can therefore produce a mortgage figure that understates the client's broader financial position.

Selected lenders can take company cash flow or retained profitability into account where their criteria permit it. The strength of the case will depend on ownership, accounts, trading history, business performance and the extent to which the profits are genuinely available and sustainable.

Changing how money is extracted from a company purely to satisfy mortgage criteria can have tax and commercial consequences, so borrowers should involve their accountant or tax adviser before altering remuneration arrangements.

Bonuses, Carried Interest and Deferred Remuneration

Large mortgages are common among senior professionals whose compensation is variable.

Investment bankers, private-equity executives, lawyers, fund managers and senior corporate executives can receive significant bonuses, carried interest, partnership distributions or deferred remuneration alongside salary.

The lender may look at several years of payment history, the nature of the remuneration and whether the amount is recurring. A specialist HNW underwriting approach can be particularly valuable where the client's current income is strong but does not fit neatly into standard mortgage fields.

Can a £2m, £5m or £10m Mortgage Be Interest-Only?

Yes. Interest-only borrowing is an established part of the high-value mortgage market, although availability and acceptable repayment strategies vary considerably by lender.

The attraction is straightforward. Capital-and-interest repayments on several million pounds of borrowing can create substantial monthly cash-flow requirements. A borrower may prefer to service interest while retaining capital within a business or investment portfolio, particularly where there is a defined future source of repayment.

Interest-only does not eliminate the debt. The lender still needs a credible strategy for repaying the capital.

Investec's current residential proposition includes capital and interest, interest-only, part-and-part and a low-start structure. Its published residential terms extend to 25 years for interest-only and part-and-part borrowing, subject to criteria. :contentReference[oaicite:3]{index=3}

What Can Be Used as an Interest-Only Repayment Strategy?

Potential strategies can include the future sale of investment assets, sale of another property, accumulated cash, a business sale or other identifiable liquidity event, subject to the particular lender's criteria.

The quality of the strategy matters.

A diversified liquid investment portfolio comfortably exceeding the eventual mortgage balance can present a different proposition from relying on the future sale of a privately owned business at an uncertain valuation and unknown date.

The lender will normally want to understand what the repayment asset is, its value, ownership, accessibility and the risks associated with it.

Part-and-Part Can Create a Middle Ground

A borrower does not necessarily have to choose between repaying every pound of capital during the mortgage term and leaving the entire balance outstanding.

Part-and-part borrowing can place one portion on capital repayment and another on interest-only. For clients expecting future liquidity but wanting some guaranteed debt reduction, that can provide a useful middle ground.

The correct split depends on cash flow, the size and timing of future liquidity and the lender's criteria.

When Does a Large Mortgage Need a Private Bank?

There is no loan size at which a borrower automatically has to use a private bank.

Private banking becomes particularly relevant where several complexities occur together: very large borrowing, variable or unconventional income, significant investment assets, international circumstances, substantial interest-only requirements or a need for individual credit judgement.

A private bank can sometimes consider the mortgage as part of a broader financial relationship. That can be helpful where the client already wants banking, deposits, investments or other lending with the institution.

However, borrowers should not assume that assets under management are always compulsory. Requirements vary significantly. Investec, for example, states that there is no requirement to have a portfolio of savings or investments with the bank when applying for its remortgage proposition, subject to its eligibility requirements. :contentReference[oaicite:4]{index=4}

The AUM question should therefore be established before comparing offers. A superficially attractive mortgage can become a very different proposition if obtaining it requires moving a substantial investment portfolio that the client would otherwise leave with an existing wealth manager.

Private Bank Versus Specialist Lender

Private banks are not the only source of large mortgage finance. Specialist lenders can be highly effective where the client needs flexible underwriting but does not require or want a wider private-banking relationship.

Mainstream high-value lenders should not be ignored either. Where income is straightforward and the requested loan falls comfortably within policy, they can sometimes offer highly competitive solutions.

For this reason, the lender should normally be selected after the case has been analysed, rather than deciding in advance that a £3m or £5m mortgage must be private banking.

Prime Property Can Be as Important as the Borrower

A lender can approve the borrower in principle and still be uncomfortable with the property.

Prime and super-prime homes can be difficult to value because there may be relatively few genuine comparable transactions. Two neighbouring houses can have materially different values because of condition, plot, outlook, tenure, specification or development history.

Country estates introduce different issues. Acreage, agricultural land, multiple dwellings, outbuildings, listed status, commercial use and development potential can all affect how a lender views the security.

High-value flats can raise questions around lease length, service charges, major works, building management and construction. A client's wealth does not remove those property risks.

The Valuation Can Change the Entire Mortgage Structure

Consider a buyer agreeing £8m for a property and seeking a £4.8m mortgage, equivalent to 60% of the purchase price.

If the lender's valuer concludes that the property is worth £7.5m, the effective LTV becomes 64%. If the lender's maximum for that loan amount is 60%, the available debt could fall to £4.5m, leaving a £300,000 funding gap.

That can occur even where the borrower has been fully approved from an income and credit perspective.

For unusual or prime property, valuation risk should therefore be considered before the client assumes that an agreed purchase price will automatically support the intended mortgage.

Large Mortgage Remortgages Can Be Just as Complex

Large-loan finance is not only relevant when purchasing property.

A client may need to refinance a £3m mortgage approaching maturity, replace an existing private-bank facility, move from interest-only to part-and-part, release equity or restructure borrowing after a change in income or liquidity.

At this scale, timing matters. A small change in rate can have a substantial cash impact, while a late refinancing process can weaken the client's negotiating position if the existing facility is close to expiry.

A £5m remortgage can also be used strategically to restore liquidity. Investec published a 2026 case study in which it provided a £5m facility at 55% LTV to refinance an HNW entrepreneur's existing mortgage and release additional capital, using a five-year interest-only structure split between a term and revolving facility. :contentReference[oaicite:5]{index=5}

That is lender-specific rather than a universal market structure, but it illustrates why high-value remortgaging can involve more than replacing one fixed rate with another.

Large Mortgages for International Borrowers

International circumstances can narrow the lender pool substantially.

The borrower may be British but resident overseas, a foreign national living in the UK or an international investor purchasing UK property. Income may be received in dollars, euros, dirhams, Swiss francs or another currency, while wealth may sit across several jurisdictions.

Lenders differ on acceptable countries, currencies, visas, residence status and overseas documentation. Some apply reductions when converting foreign income into sterling for affordability purposes.

A bank that is highly competitive for a UK-resident £5m borrower may therefore be unsuitable for an otherwise identical client living in Dubai, New York, Singapore or Switzerland.

What About Trusts, Companies and Family Offices?

Complex ownership structures require the finance to be aligned with the legal structure of the transaction.

A lender may need to understand trustees, beneficiaries, directors, shareholders, ultimate beneficial ownership, jurisdiction and the source of funds being introduced into the purchase.

The mortgage should not determine whether a client ought to use a trust, company or another structure. That decision can carry significant tax and legal consequences and should be made with the appropriate professional advisers.

Once the structure is established, the mortgage market can be assessed around it.

Should You Use Property Finance or Securities-Backed Lending?

Some HNW clients have enough investment wealth to consider borrowing against securities rather than, or alongside, property.

The two forms of finance have different characteristics. A mortgage is primarily secured against property. Securities-backed or Lombard lending is linked to the value and composition of an investment portfolio and can create collateral-management or margin-call risk if asset values fall.

Neither is automatically superior. The appropriate structure depends on the purpose and expected duration of the borrowing, the client's liquidity needs, investment strategy and tolerance for collateral risk.

For some clients, comparing both sources of liquidity can be more useful than viewing the mortgage in isolation.

What Does a Large Mortgage Cost?

The headline interest rate is only one part of the cost.

Large mortgage pricing can reflect LTV, loan size, borrower profile, product term, fixed or variable rate, repayment structure and the wider banking relationship. Arrangement fees, valuation fees, legal costs and any requirements associated with the relationship should also be considered.

Small percentage differences become large cash numbers on substantial balances.

These figures are simple illustrations of the annual interest difference on a constant balance. They do not include capital repayments, fees, compounding or changes in the mortgage balance.

The Cheapest Rate Is Not Necessarily the Best Large Mortgage

A lower headline rate can be less valuable if the lender does not recognise enough income, requires a larger deposit, insists on an unwanted investment relationship or cannot meet the transaction timetable.

Likewise, a slightly higher rate may be commercially preferable if it enables the borrower to preserve substantial liquidity, use an appropriate interest-only structure or avoid disrupting existing investment arrangements.

Large mortgage comparison should therefore consider total cost, required equity, flexibility, repayment structure, execution certainty and the wider implications of the banking relationship.

How to Prepare for a £2m–£10m Mortgage Application

A well-prepared application gives the lender a coherent picture of the borrower before detailed underwriting begins.

For a large and complex mortgage, the documentation can extend well beyond standard payslips and bank statements. The exact requirements vary, but the lender may need to understand employment, businesses, investments, property holdings, liabilities, liquidity and the origin of money being used in the transaction.

Why a Personal Balance Sheet Helps

A concise statement of assets and liabilities can make a complicated financial position much easier to understand.

Rather than asking an underwriter to reconstruct the client's wealth from dozens of individual documents, the balance sheet shows the relationship between cash, investments, businesses, properties and debt at the outset.

The supporting evidence can then substantiate that picture.

This is particularly useful for entrepreneurs, investors and clients whose wealth is distributed across several asset classes or jurisdictions.

Explain the Transaction as Well as the Borrower

The lender needs to understand why the client is borrowing.

Is the mortgage financing a purchase? Replacing existing debt? Releasing capital for investment? Preserving liquidity ahead of a business transaction? Allowing another property to be sold later rather than under time pressure?

The same £5m mortgage can make sense for very different reasons. Explaining the objective allows the proposed structure to be assessed in context.

How Early Should You Start a Large Mortgage Application?

Earlier than you might for a straightforward mainstream mortgage.

The credit decision can involve more detailed financial analysis, while high-value property valuations, legal work, international documentation and source-of-funds checks can add time.

Starting early also gives the borrower more opportunity to compare structures rather than accepting whichever lender can respond after the transaction has already become urgent.

This is especially important where an existing large mortgage is approaching maturity or an exchange and completion deadline has already been agreed.

How a Specialist Broker Approaches a Large Mortgage

A large mortgage is not simply sourced by entering a loan amount into a product table.

The first task is to understand the client's complete financial position and identify which part of it will drive the lender's decision. That might be straightforward salary, recurring bonus, business profitability, investment wealth, property equity, foreign income or a combination of several factors.

The second is to understand the property and required structure: purchase price, valuation risk, LTV, repayment basis, mortgage term and any future liquidity event.

Only then can the relevant lending markets be compared.

That may include mainstream large-loan teams, specialist banks, private banks and international lenders. The best option is the one that combines acceptable pricing with the underwriting, leverage, flexibility and execution capability required by the client.

How Willow Private Finance Can Help With £2m–£10m+ Mortgages

Willow Private Finance works with HNW and UHNW clients requiring substantial residential and property-backed borrowing, including entrepreneurs, senior executives, investors and international borrowers.

Our role is to understand how the client's income and wealth are actually structured before approaching lenders. For one borrower, the solution may sit with a mainstream bank's large-loan team. For another, it may require specialist HNW underwriting. For a more complex £5m or £10m-plus requirement, a private bank may provide the appropriate credit flexibility.

Where a client already has a private bank or wealth manager, we can also compare the incumbent proposition with alternatives rather than assuming that moving the mortgage is automatically beneficial.

The objective is to secure a facility that works not only at completion but within the client's broader financial position.