Large Mortgage Loans (£1m+): Routes via High Street & Private Banks
DIRECTOR AND MORTGAGE ADVISER
Specialist broker for high-earning professionals and complex income cases.
High-value borrowing isn’t just a bigger version of a standard mortgage. Once you pass £1m, lenders assess risk, income mix and exit strategies more closely. The good news: there are multiple paths—via mainstream high-street lenders and private banks. This guide explains the differences, who each route suits, and how to structure a large loan without over‑stretching.
Who This Guide Is For
Senior professionals (law, finance, tech, medicine), equity partners and contractors with complex income.
High‑net‑worth or internationally mobile clients (e.g. foreign income or assets abroad).
Returning expats and foreign nationals building a UK base.
Our role is to map your income story to the right lender and structure—balancing borrowing power, rate, and flexibility.
Request your fee free mortgage consultation today. No obligation, just sound advice.
High Street vs Private Bank: What’s The Real Difference?
High‑street lenders suit borrowers with strong credit, clear UK income, and a straightforward property. They offer sharp pricing and quick, policy‑led decisions. Many now have dedicated large‑loan or professional ranges with enhanced income multiples.
Private banks suit clients with complex or global finances, significant assets, larger income from bonus/equity, or where a customised structure is needed (e.g. higher interest‑only exposure, multiple currencies, or bespoke affordability). Pricing is often tailored; relationship banking may be required.
Rule of thumb
If your profile fits a published policy and you can reach the target loan using mainstream affordability, start high street.
If affordability is blocked by policy quirks (e.g. bonus/RSUs, foreign currency, short UK footprint) or you need bespoke structuring above policy limits, explore private banking.
What Drives Affordability At £1m+?
Large loans are primarily governed by affordability models and loan‑to‑income (LTI) caps. Lenders take different views on variable and non‑UK income, so placement matters.
Typical high‑street levers
Enhanced income multiples for certain profiles (e.g. professionals, higher earners)
Use of variable income (bonus/commission/overtime) on an averaged or discounted basis
Interest‑only or part‑and‑part to reduce the monthly stress test
Policy on foreign income (accepted currencies and haircuts/discounts)
Private bank levers
More holistic view of income + assets (including vested equity/RSUs)
Willingness to consider complex structures and multiple income sources
Potential to align with investment/wealth plans (subject to suitability)
Income Multiples & Profiles (What’s Realistic?)
While affordability calculators rule the day, some lenders publish indicative LTI caps. For strong professional profiles, 5.0–5.5x total income is often achievable with the right lender and structure. Where affordability is tight, we look to:
Average 12–24 months of variable pay (bonus/commission)
Evidence sustainability of allowances
Optimise loan split (repayment vs interest‑only) and term
Professionals & newly qualified: several high‑street lenders offer enhanced multiples for defined professions (law, medicine, accountancy, engineering), and some large‑loan ranges allow up to 5.5x subject to overall affordability.
How We’ve Helped Clients Like You
These clients faced similar challenges - here’s how we helped them secure the right deal.
Interest‑Only Or Part‑and‑Part: Powerful—But Plan The Exit
For large balances, part‑and‑part (blend of repayment and interest‑only) can materially improve monthly cash‑flow while keeping a path to reduce capital. Acceptable repayment strategies include sale of property (with minimum equity), bonuses, pensions, investments or cash—each with evidence requirements. Expect tighter limits on pure interest‑only vs part‑and‑part, and ensure the exit strategy is robust and documented.
Foreign Currency & International Clients
If any income is paid in USD/EUR/CHF/AED (or other accepted currencies), mainstream lenders may apply a haircut/discount before affordability. Policy varies by bank and by currency; private banks can be more flexible but will still assess currency fluctuation risk and documentation.
Non‑UK nationals with shorter UK residence or certain visa types may still access mainstream routes, typically with additional evidence and (sometimes) lower LTVs. Where policy blocks apply, private banks can provide alternatives.
When The High Street Shines
High street is often best if you:
Earn predominantly UK PAYE income (with or without regular bonus)
Want keen pricing and a predictable policy journey
Fit within published LTI caps at your target LTV
Are comfortable with mainstream IO limits and standard repayment plans
Common use‑cases
Senior associates/partners with 2–3 year bonus history
Dual‑income professional couples targeting 5–5.5x
Contractors with strong day‑rate history and low background debt
When A Private Bank Is The Smarter Route
Consider private banking if you:
Have significant variable/seasonal income or RSUs/vested stock
Need higher IO exposure or a bespoke repayment profile
Earn in multiple currencies or split pay across jurisdictions
Are a returning expat or recent UK arrival with limited domestic track record
Want lending integrated with broader wealth planning (subject to advice)
Typical private bank advantages
Case‑by‑case underwriting aligned to your real income and asset position
Flexibility on complex structures, security, and currencies
Relationship‑led service and potentially faster decision‑making on non‑standard cases
Speak To An Expert Today
Get in touch for a fee free, no-obligation chat about how we might be able to help you.
Documents Required (Large‑Loan Edition)
Have these ready to accelerate underwriting:
Payslips (usually last 3), P60s, and bonus/commission evidence over 2 years
Full contract packs for contractors/day‑rate, with renewal history
Company accounts/SA302s + tax overviews for self‑employed or partners
Portfolio evidence for investments used as repayment vehicles (e.g. pension, cash, vested stock)
Proof of deposit/source of funds (especially for international transfers)
For foreign income: statements in original currency + FX conversion evidence
High-Level Lender Landscape
Below is an at‑a‑glance view of how policies can differ. Exact placement depends on your full profile.
High street (policy‑led)
Indicative LTI up to ~5.0–5.5x for eligible profiles
Part‑and‑part common; pure IO subject to caps and repayment plan evidence
Select currencies accepted with haircuts
Private banks (bespoke)
Discretionary LTI based on total income + asset picture
Higher IO tolerance possible with robust exit
Multi‑currency expertise and complex structuring
What Our Clients Say
How Kite Mortgages Helps
Whole‑of‑market placement for first charge mortgages across high‑street and private banks
Structuring expertise for complex income (bonuses, RSUs, carried interest, FX)
Bespoke modelling to balance borrowing power, rate, and flexibility
Concierge case management to keep things moving with large‑loan underwriting
Next step: Request your fee‑free mortgage consultation and we’ll outline 1–2 likely routes and the documents to prepare.
Request your fee free mortgage consultation today. No obligation, just sound advice.
FAQs
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Possibly. Some high‑street ranges allow up to ~5.5x for strong profiles; private banks assess holistically. Your total outgoings, credit profile, and security will determine the true ceiling.
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Varies by lender and repayment plan. Many mainstream lenders cap pure IO at a lower LTV and allow higher LTV on part‑and‑part. The right mix depends on your evidence and long‑term plan.
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Often, yes—subject to accepted currencies and a haircut/discount. We’ll match your currency profile to the right lender or consider a private bank if policy blocks apply.
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Some do request a broader relationship; others are more transactional. We’ll identify suitable options based on your goals.
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More scrutiny on sustainability of income, background assets/liabilities, and a credible repayment/exit plan where interest‑only is used.
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