How much income do I need to earn for a £3.75m or £4m mortgage?
How to get a £3.75m and £4m mortgage
There is a surprisingly good selection of lenders offering mortgages of £3.75 million and £4 million to borrowers able to meet the strict affordability calculations. High-net-worth clients would need to have a deposit between 10% and 40% of the purchase price, and ideally, a high credit score to qualify.
With more lenders targeting high-net-worth clients, there is increased competition on pricing, and this means that larger loan rates currently start at 3.90%. More lenders are lowering their rates as the cost of funding has decreased.
Here’s a detailed breakdown:
Income Required for a £3.75m–£4m Mortgage
Rule of Thumb: 4.5x to 5.5x Income
Most UK lenders will lend 4 to 5.5 times your annual income, though some private banks or specialist lenders may stretch this with the right client profile. Especially, you have assets or other properties they can take a cross-charge against.
| Mortgage Amount | Income Needed (4.5x) | Income Needed (5.5x) |
|---|---|---|
| £3.75 million | ~£833,000 | ~£681,000 |
| £4 million | ~£889,000 | ~£727,000 |
You would need an annual income of at least £700,000–£1,000,000, depending on the lender and your financial profile. This coud be more if you are paid in a foregin currency or you are applying to a more conservative lender.
What Kind of Lenders Offer These Mortgages?
High-value mortgages like this fall under “large loans” or “million-pound mortgages”, and they are increasingly being offered through standard retail banks and some building societies.
Types of Lenders:
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Private banks (e.g., Coutts, Investec, C. Hoare & Co.)
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Specialist lenders (e.g, niche building societies and challenger banks)
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High street banks (select clients) — Some high street names (Barclays for Intermediaries, HSBC Premier) do offer large mortgages, but only to HNWIs (High Net Worth Individuals) with exceptional profiles.
Requirements They Consider:
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Proven track record of income (e.g., business profits, bonuses, investments).
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Large deposit or significant equity in other assets.
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Clean credit history.
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Sometimes they prefer assets under management (AUM) with their bank in exchange for better terms.
Do high street lenders or private banks offer the most competitively priced large loan rates?
High-street banks and building societies tend to offer the most competitively priced mortgages of £1 million or more. They typically undercut the private banks and have lower setup fees.
Salary Requirments for a £3.75m or £4m Mortgage
| Single or Joint Income | 4.5x Borrowing | 5x Borrowing | 5.5x Borrowing |
|---|---|---|---|
| £700,000 | £3,150,000 | £3,500,000 | £3,850,000 |
| £725,000 | £3,262,500 | £3,625,000 | £3,987,500 |
| £750,000 | £3,375,000 | £3,750,000 | £4,125,000 |
| £775,000 | £3,487,500 | £3,875,000 | £4,262,500 |
| £800,000 | £3,600,000 | £4,000,000 | £4,400,000 |
Where Are £3.75m–£4m Mortgages Common?
These mortgage amounts are typically associated with prime and super-prime real estate in the UK, especially in and around London and a few other affluent areas.
Popular Areas:
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London
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Prime Central London (PCL): Mayfair, Belgravia, Knightsbridge, Chelsea, Kensington
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West and North London: St. John’s Wood, Hampstead, Notting Hill, Holland Park
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South-West London: Wimbledon Village, Richmond, Clapham (large properties)
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Home Counties
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Surrey: Weybridge, Cobham, Esher, Oxshott
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Hertfordshire: Radlett, St Albans, Harpenden
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Berkshire: Ascot, Sunningdale, Windsor
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Other UK Cities
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Manchester, Bristol, Edinburgh — limited demand at this price, but occasional high-end properties
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Most buyers in this tier are City professionals, entrepreneurs, celebrities, or international buyers looking for investment or primary homes.
Summary
| Feature | £3.75m–£4m Mortgage |
|---|---|
| Income Needed | £700k–£900k+ (depending on lender) |
| Lender Type | Private banks, specialist lenders |
| Deposit/Equity | 15–40% typically (£750k–£1.6m) |
| Locations | Prime Central London, Surrey, Hertfordshire |
| Client Profile | HNWIs, international buyers, execs |
Call Trinity Financial on 020 7016 0790 to secure a £3.75m or £4 million mortgage, submit a questionnaire 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
Private banks often offer very good service. They aim to provide flexible and accessible mortgage products for wealthy clients, but they also provide high-quality, discreet, and professional services.
It is all down to price. While many wealthier clients like having a relationship with private banks, they are often paying for the privilege.
High street lenders worked out some time ago that issuing larger mortgage loans does not have to be a complex process. By targeting clients looking for £1 million+ mortgages, they could issue one mortgage or ten smaller £100,000 mortgages. Often, the same level of work goes into getting smaller and larger mortgages agreed.
Bigger lenders like HSBC, Barclays, Santander, Halifax, and TSB are all keen to issue larger loans, and they often offer enticing rates to tempt wealthier clients. Smaller building societies also offer surprisingly large mortgage loans.
At Trinity Financial, we constantly monitor the £1 million+ mortgage market. Click here to view our £1 million mortgage table, which highlights the pick of the large loan rates.
https://www.trinityfinancialgroup.co.uk/mortgage-tools/million-pound-mortgage-best-buys/
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