Which lenders offer the most competitively priced £1 million and £2 million mortgages?

• High-street banks and building societies (Nationwide, Halifax, Barclays, HSBC, Coventry, etc.) – many cap lending at around 4.5–6.5 × income and may require a substantial deposit. Only a limited portion of their lending goes above 4.5 × income—typically 10–15 % under their income multiples cap.

• Specialist high-net-worth lenders and private banks – these include Coutts, Barclays Private, HSBC Private, Hampden & Co, Arbuthnot Latham, EFG, etc. They lend £1 million+ by requiring you meet private banking thresholds and assess income/assets more flexibly.

• Boutique/specialist mortgage lenders and brokers – Trinity Financial and others work with 90+ high street lenders, including boutique ones, to arrange £1 million+ mortgages. There are lots more private banks.

Private Bank vs High Street – Which Is Best?

• High-street lenders
  Usually offer lower listed interest rates and straightforward processes.
  Will stick to rigid multiples (usually 4.5× to max 6.5× income), tight deposit requirements (10–20%), and stricter income documentation for larger mortgage loans.

• **Private banks / high-net-worth lenders**
  Offer bespoke underwriting—assessing bonuses, dividends, investments, and complex structures.
  Typically lend from £1 million upwards. May allow interest-only products, flexible repayment terms, cross-collateralisation, and multi-asset servicing.
  Some require you to meet private banking criteria (e.g., £250k–£500k+ in assets or income, or borrowing £1 million+).

Aaron Strutt, product director at Trinity Financial, says: "If your income/assets are straightforward, and you’re comfortable with standard multiples, a high-street lender should suffice. If you have complex income, need flexibility, interest-only, or bespoke terms, private banks or specialist lenders are likely better."

Qualifying for a £1 million mortgage

Here's what lenders typically require:

1. Income multiples

   • Standard lenders typically require a 4.5–5.5 times salary/income.

   • To borrow £1 million:

     • At 5×: need £200,000 income;

     • At 6×: need ~£167,000 income.

2. Deposit or loan-to-value (LTV)

   • Standard: 10–20% deposit (£100,000–£200,000).

   • Some private lenders may accept higher LTVs and more flexible terms.

3. Credit and documentation

   • Excellent credit history, stable income, clean bank statements.

   • Private banks will assess dividends, savings, investments and personal wealth.

4. Private banking eligibility

   • Often need ≥£300k income or ~£3m+ in assets to qualify as “high net worth” 

5. Broker assistance

   • Specialist brokers can access private and boutique lenders on your behalf, helping structure the best deal.

Steps to take to secure a £1 million+ mortgage

Getting a £1 million+ mortgage does not need to be hard work

Best route? If your finances are fairly typical and your income is strong, a high-street lender may offer lower rates. However, for those with complex needs, higher-earning or investable assets, or bespoke terms, private/high-net-worth lenders are often a better fit.

• Qualifying means:

  • Income of £167k–£200k+ (depending on multiple)

  • Deposit of ~10–20% (or more)

  • First-class credit and documentation

  • If opting for private banking, meet high-net-worth thresholds (~£300k income or £3m+ assets)

Lending solutions with Trinity Financial

Are you looking to buy a property or remortgage and need expert advice? We’re here to help you find a solution. Our specialist brokers have extensive experience providing creative solutions to secure mortgages for our clients.

Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation

The information contained within was correct at the time of publication but is subject to change.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage