Santander introduces new fixed and tracker rates for mortgages between £250,000 and £5 million
Quick Summary
Santander has launched a new range of mortgages for loan sizes between £250,000 and £5 million. The bank has joined a growing list of lenders keen to attract high-net-worth clients seeking larger mortgage loans. Barclays for Intermediaries has some particularly good mortgages for those seeking mortgages between £2 million and £10 million, along with NatWest for brokers.
Santander for Intermediaries has introduced a new range of mortgages available for mortgages between £250,000 and £5 million.
The two-year and five-year fixed rates and Bank of England trackers are available for home movers, first-time buyers, and borrowers looking to remortgage to get a better rate or raise capital to release additional funds, potentially for home improvements.
Applicants will need a 40% deposit to qualify for the new mortgages, and Santander will lend between four and 5.5 times single or joint salaries when calculating the maximum loan size and mortgage affordability.
The most competitively priced rates in the market are priced around 3.85% at the moment, but Santander's new larger loan rates are higher at roughly 4.4%. Not all lenders charge a premium to access bigger mortgages.
Aaron Strutt, product director at Trinity Financial, says: “Mortgage lenders are increasingly offering rates between certain loan sizes, like Nationwide offering its most competitively priced mortgages between £300,000 and £5 million, and banks like Barclays have gone one step further by offering really competitively priced rates for mortgages between £2 million and £10 million. NatWest also have rates available for particularly large mortgage loans."
Which other banks offer mortgages up to £5 million?
Here’s a selection of UK banks and specialist lenders that Trinity Financial's brokers work with for large mortgages (up to £5 million). Terms depend heavily on your income, assets, property type, deposit, structure, etc.
| Lender | Typical upper loan size / special features | Key terms & criteria |
|---|---|---|
| HSBC UK – High Value Mortgage | For borrowing more than £2 million on a single property. | UK resident, aged 18+, income/asset based. LTV/term tailored. |
| Barclays Bank UK – High Value / Private Banking | Offers “high-value mortgages” for wealthier clients; some products are between £2 million and up to £10 million. | Private banking clients; bespoke structuring; likely lower LTV for large loans. |
| Investec Bank plc (UK) | “Minimum loan size £1 million; typically lend up to £10 million and may consider higher.” | LTV up to ~95% (depending on case) for residential; complex incomes allowed. |
| Coutts & Co (private bank) | Bespoke “private mortgages” for high-net-worth individuals; no standard product cap publicly noted. | Asset criteria apply, property value/loan size negotiated. |
Does it matter which bank or building society you approach for a larger mortgage loan?
It does really. Most of the lenders have different rates and varying acceptance criteria; some may also require assets under management or insist on a banking relationship. Arrangement fees also vary between £0 and 1% of the mortgage amount.
Get expert mortgage advice from Trinity Financial
At Trinity Financial, our team of experienced London mortgage brokers specialises in helping first-time and next-time buyers secure the right deal. We work with all major lenders, including Nationwide, and can guide you through the full application process.
Call Trinity on 020 7016 0790 to secure a larger mortgage or book a consultation
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