Large Mortgage Loans

Expert Mortgage Advice for Larger Borrowing Requirements

Looking for a large mortgage loan?

When you're borrowing a significant amount, finding the right mortgage can involve more than simply comparing interest rates.

Higher loan amounts, complex income structures, bonuses, commission, business profits and existing financial commitments can all affect the way mortgage lenders assess an application.

At Moveo Mortgages, we provide friendly, straightforward mortgage advice for clients looking to arrange larger mortgage loans.

Whether you're purchasing a high-value property, moving to a larger family home, remortgaging an existing property or restructuring your borrowing, we'll take the time to understand your circumstances and help you explore your mortgage options.

We regularly help clients whose income may include:

• Basic salary

• Bonuses

• Commission

• Overtime

• Dividends

• Company profits

• Partnership income

• Contract income

• Investment income

• Multiple income sources

Every lender has different criteria.

The way your income is assessed can have a significant impact on the amount you may be able to borrow.

At Moveo Mortgages, we'll look beyond the headline figures and take the time to understand the full picture.

Move forward with Moveo.

What Is a Large Mortgage Loan?

There is no single definition of a large mortgage.

What one lender considers a standard mortgage may be treated as large lending by another.

Generally, larger mortgage loans may involve borrowing of:

• £500,000 or more

• £750,000 or more

• £1 million or more

However, the loan amount is only one part of the application.

A £600,000 mortgage for an applicant earning a straightforward basic salary may be assessed very differently from the same mortgage for a company director receiving salary, dividends and retaining profits within their business.

Property value can also affect the mortgage options available.

For example, some lenders have different criteria or maximum loan-to-value limits for higher-value properties.

This means arranging a large mortgage often requires a more detailed understanding of both your financial circumstances and individual lender criteria.

How Much Can I Borrow on a Large Mortgage?

The amount you may be able to borrow will depend on your individual circumstances.

Mortgage lenders typically consider factors including:

• Your income

• How your income is structured

• Your deposit or property equity

• Existing mortgage commitments

• Loans and credit agreements

• Credit card balances

• Dependants

• Regular expenditure

• The mortgage term

• Your age

• The property you're purchasing

Many borrowers initially focus on income multiples.

You may have heard that mortgage lenders offer four, five or even six times income.

In reality, affordability is often more complicated.

Mortgage lenders use their own affordability calculations.

Two lenders assessing exactly the same applicant can potentially arrive at very different maximum borrowing figures.

This becomes particularly important when arranging a larger mortgage.

A relatively small difference in affordability calculations could potentially result in a significant difference in the amount a lender is prepared to offer.

At Moveo Mortgages, we'll take the time to understand your circumstances before exploring lenders whose affordability criteria may be suitable for your requirements.

Large Mortgages for Higher Earners

Higher earners can sometimes have more complex mortgage requirements.

Your basic salary may only represent part of your overall earnings.

You may also receive:

• Annual bonuses

• Quarterly bonuses

• Commission

• Share awards

• Overtime

• Allowances

• Additional employment income

Different mortgage lenders can assess additional income in different ways.

One lender may use a percentage of your bonus.

Another may consider a larger proportion.

Some lenders may want to see a two-year history of additional earnings.

Others may consider a shorter track record depending on your circumstances.

This can make lender selection particularly important.

If a significant proportion of your income comes from bonuses, commission or other variable earnings, we'll help you understand how different lenders may assess your income.

Large Mortgage Loans for Company Directors

Company directors often face a different challenge when applying for a larger mortgage.

Your business may be performing strongly.

However, the income you personally withdraw from the company may not fully reflect the financial strength of the business.

Many company directors choose to receive income through a combination of:

• Salary

• Dividends

You may also retain profits within the company rather than withdrawing additional income.

This can sometimes affect mortgage affordability.

Some lenders assess company directors using salary and dividends.

Other lenders may be prepared to consider salary and a share of company profits, depending on their criteria and your circumstances.

This difference can be particularly important when arranging a large mortgage.

For example, a company director may deliberately retain profits within the business for tax planning, investment or cash flow purposes.

Looking solely at salary and dividends may not always provide a complete picture of the company's financial performance.

Our Limited Company Director Mortgages page explains this in more detail.

At Moveo Mortgages, we'll take the time to understand your business, shareholding and income structure before exploring your mortgage options.

Large Mortgages for Business Owners

Running a successful business doesn't always mean your personal income is straightforward.

Business owners may have:

• Multiple companies

• Complex shareholding structures

• Retained profits

• Director's loans

• Irregular dividends

• Recent business growth

• Income from several sources

Some business owners may also own commercial property or investment properties.

When you're looking to arrange a large mortgage, it's important to understand how a lender is likely to assess the overall financial picture.

Our Self-Employed Mortgages guide explains how mortgage lenders may assess business owners and self-employed applicants.

We'll take the time to understand how your income is generated and help you explore mortgage options based on your individual circumstances.

Large Mortgage Loans for Professionals

Professionals may require larger mortgages due to their income, career progression and the value of properties they are looking to purchase.

We can help applicants working in professions such as:

• Doctors

• Dentists

• Solicitors

• Barristers

• Accountants

• Finance professionals

• Consultants

• Engineers

• Technology professionals

• Senior executives

Your current income may not always tell the full story.

For example, you may be at an early stage of a career with strong future earning potential.

You may have recently received a promotion.

You may receive bonuses or variable income.

Or you may have recently moved to a new employer.

Different lenders may take different approaches to professional applicants.

Our Professional Mortgages guide provides further information about mortgages for professionals.

At Moveo Mortgages, we'll help you understand how lenders may assess your occupation, income and circumstances.

Large Mortgages for Contractors

Contractors can sometimes have significant earning potential while having an income structure that doesn't fit traditional mortgage assessments.

You may:

• Work on a day rate

• Operate through a limited company

• Move between contracts

• Have gaps between contracts

• Retain profits within your business

Some lenders have specific criteria for contractors.

Depending on your circumstances, they may consider the value of your current contract when assessing affordability.

Our Contractor Mortgages page explains the mortgage process for contractors in more detail.

If you're a contractor looking for a larger mortgage, we'll take the time to understand your contract history and working arrangements.

Using Bonuses and Commission for a Large Mortgage

Bonuses and commission can form a significant part of a borrower's total income.

However, mortgage lenders don't all treat variable income in the same way.

A lender may consider:

• Your latest bonus

• An average of previous bonuses

• A percentage of your bonus income

• The frequency of your bonus

• How long you have received variable income

The same can apply to commission.

If your income is heavily performance-based, choosing a lender whose criteria align with your income structure can be particularly important.

We'll review your income history and help you understand how different lenders may assess your earnings.

Can I Get a £1 Million Mortgage?

Potentially.

Mortgages of £1 million or more are available, although lending criteria can become more detailed as the loan amount increases.

A lender may consider:

• Your overall income

• The sustainability of your income

• Your assets and liabilities

• Your deposit

• The property value

• Your credit history

• Existing mortgage commitments

• Your wider financial position

Some lenders have maximum loan limits.

Others may refer larger mortgage applications to specialist underwriting teams.

For particularly large borrowing requirements, a more individual approach to underwriting may be required.

At Moveo Mortgages, we'll help you explore lenders whose large-loan criteria may be suitable for your circumstances.

Large Mortgage Loan-to-Value

Loan-to-value, often shortened to LTV, compares the amount you're borrowing with the value of the property.

For example, if you're purchasing a £1 million property with a £250,000 deposit, you would require a £750,000 mortgage.

This represents a 75% loan-to-value mortgage.

Generally, a larger deposit can provide access to a wider range of mortgage options.

However, some lenders apply additional restrictions to larger mortgage loans.

For example, a lender may offer a particular loan-to-value on standard mortgages but reduce the maximum LTV when the loan exceeds a certain amount.

This is another reason why comparing lender criteria can be important when arranging a larger mortgage.

Buying a High-Value Property

Higher-value properties can sometimes introduce additional mortgage considerations.

The property itself may be:

• A large detached home

• A period property

• A listed building

• A property with significant land

• A rural property

• A property with outbuildings

• A property with unusual construction

• A newly built luxury home

Mortgage lenders don't only assess the borrower.

They also assess the property being used as security for the mortgage.

Certain properties may require additional consideration during the valuation and underwriting process.

If you're purchasing a high-value or unusual property, we'll take the time to understand the property alongside your mortgage requirements.

Moving Home With a Large Mortgage

Moving to a higher-value property can involve several financial considerations.

You may already have an existing mortgage.

Your current mortgage may have early repayment charges.

You may have built significant equity within your existing property.

And you may require additional borrowing to purchase your next home.

Depending on your circumstances, you may consider:

• Porting your existing mortgage

• Borrowing additional funds from your current lender

• Arranging a completely new mortgage

• Using equity from your existing property as a deposit

Our Moving Home Mortgages guide explains the mortgage process for home movers.

At Moveo Mortgages, we'll help you understand your existing mortgage and explore your options for financing your next property.

Remortgaging a High-Value Property

If you own a higher-value property, your mortgage should still be reviewed as your circumstances and mortgage deal change.

You may consider remortgaging because:

• Your current mortgage deal is ending

• You want to review your interest rate

• You require additional borrowing

• You're planning significant home improvements

• You want to restructure your mortgage

• Your income has changed

• Your property value has increased

Our Remortgages guide explains the remortgage process in more detail.

For larger mortgage balances, even relatively small differences in interest rates can have a significant impact on the cost of borrowing.

We'll help you review your mortgage and explore the options available based on your circumstances.

Releasing Equity From a High-Value Property

Some homeowners have significant equity within their property.

You may be considering additional borrowing to:

• Renovate your home

• Build an extension

• Purchase another property

• Support certain financial plans

• Consolidate eligible borrowing, where appropriate

The suitability of additional borrowing will depend on your individual circumstances.

Options may potentially include:

• A further advance

• Remortgaging

• A second charge mortgage

Our Second Charge Mortgages page explains how secured borrowing may work.

We'll help you understand the options that may be available and the potential implications of increasing borrowing secured against your home.

Interest-Only Large Mortgages

Some borrowers may consider an interest-only mortgage.

With an interest-only mortgage, your monthly mortgage payments generally cover the interest charged on the loan.

The original capital balance remains outstanding and must be repaid at the end of the mortgage term.

Lenders will usually require a credible repayment strategy.

Depending on the lender, this may include certain investments, assets or the sale of a property.

Interest-only lending criteria can vary significantly.

This can be particularly relevant for higher earners, business owners and applicants with substantial assets.

We'll help you understand the available mortgage structures and whether they may be appropriate for your circumstances.

Large Mortgages With Complex Income

Income isn't always straightforward.

You may receive money from several different sources.

For example:

• Employment income

• Company dividends

• Rental income

• Investment income

• Pension income

• Contract work

• A second employment

Some lenders are more comfortable assessing multiple income streams than others.

The key is understanding which income sources may be accepted and how they may be calculated.

At Moveo Mortgages, we'll take the time to understand your complete income position before exploring your mortgage options.

Large Mortgages With Existing Commitments

Higher income doesn't automatically mean unlimited mortgage affordability.

Mortgage lenders will also consider your existing financial commitments.

These may include:

• Loans

• Car finance

• Credit cards

• Existing mortgages

• Buy-to-let properties

• School fees

• Childcare

• Maintenance payments

• Other regular commitments

Different lenders may assess these commitments differently.

If you have a strong income but significant monthly expenditure, lender affordability calculations can produce very different results.

We'll help you understand your borrowing position and explore lenders whose criteria may be suitable for your circumstances.

High Net Worth Mortgages

Some clients may meet a lender's definition of a high net worth borrower.

The exact definition and treatment of high net worth clients can depend on the lender and the relevant regulatory framework.

High net worth applicants may have:

• Significant annual income

• Substantial assets

• Complex investments

• Multiple properties

• Business interests

• International income

Our High Net Worth Mortgages page provides further information for clients with more complex financial circumstances.

Large mortgage advice should still begin with understanding the individual.

At Moveo Mortgages, we'll take the time to understand your financial position and what you're trying to achieve.

Protecting a Large Mortgage

The larger your mortgage, the greater the potential financial commitment.

It's therefore important to consider what may happen if your circumstances unexpectedly change.

How would your mortgage be paid if you died?

Could your family maintain the mortgage payments if you became seriously ill?

How would you manage your commitments if illness or injury prevented you from working?

At Moveo Mortgages, we can help you explore protection options based on your individual circumstances.

Life Insurance

Life Insurance may provide financial support to your loved ones if you die during the policy term.

The level of cover required will depend on your circumstances and financial commitments.

Critical Illness Cover

Critical Illness Cover may provide a lump-sum payment if you're diagnosed with one of the specified serious illnesses covered by your policy.

Income Protection

Income Protection may provide a regular income if illness or injury prevents you from working.

This can be particularly important for higher earners, business owners, contractors and professionals with significant monthly commitments.

Protection advice should always be personal.

We'll help you consider the risks that matter to you and explore suitable protection options.

Why Use a Mortgage Broker for a Large Mortgage?

Larger mortgage applications can involve more complex affordability calculations and lender criteria.

The lowest advertised mortgage rate isn't necessarily available to every applicant.

And the lender offering the highest affordability may not necessarily provide the most suitable overall mortgage solution.

At Moveo Mortgages, we'll take the time to understand:

• Your income

• Your assets

• Your commitments

• Your deposit

• Your property

• Your future plans

We can help you:

• Understand your borrowing potential

• Explore mortgage options

• Navigate lender criteria

• Structure your mortgage application

• Prepare supporting documentation

• Communicate with lenders

• Receive support through to completion

Our approach is friendly, personal and straightforward.

Large Mortgage Advice Across the UK

Moveo Mortgages provides mortgage and protection advice to clients across the UK.

We have a particular focus on helping clients throughout Manchester, Cheshire, Merseyside and the wider North West.

We regularly support homebuyers and homeowners in areas including:

• Alderley Edge

• Wilmslow

• Hale

• Altrincham

• Bowdon

• Prestbury

• Knutsford

• Mobberley

• Didsbury

• Chorlton

• Formby

• Heswall

• West Kirby

• Chester

• Tarporley

• Lymm

You may find our local mortgage guides helpful if you're buying, moving or remortgaging in one of these areas.

Wherever you're based, we'll take the time to understand your circumstances and help you explore your mortgage options.

Frequently Asked Questions About Large Mortgage Loans

What is considered a large mortgage in the UK?

There is no universal definition.

Some lenders may consider mortgages above £500,000 to be large loans, while others may apply specialist criteria at £750,000, £1 million or another threshold.

Can I borrow more than five times my income?

Potentially.

The amount you may be able to borrow depends on the lender's affordability assessment and your individual circumstances.

Some lenders may offer higher income multiples to certain applicants, although this isn't guaranteed.

Can bonuses be used for mortgage affordability?

Potentially.

Many lenders can consider bonus income, although the amount accepted and the income history required can vary.

Can commission be included in my mortgage income?

Some lenders may consider commission income.

The way it is assessed will depend on the lender and your history of receiving commission.

Can company profits be used for a mortgage?

Some mortgage lenders may consider a company director's share of profits when assessing affordability.

Others may focus on salary and dividends.

Our Limited Company Director Mortgages guide explains this in more detail.

Can I get a £1 million mortgage?

Potentially.

Your income, deposit, commitments, credit history and the property will all be considered.

Do large mortgages have different interest rates?

Mortgage products and pricing can vary depending on the lender, loan amount and loan-to-value.

Some lenders have specific large-loan products or pricing structures.

Can I get an interest-only large mortgage?

Potentially.

Lenders will usually require a suitable repayment strategy and their criteria can vary.

Can I remortgage a high-value property?

Yes, subject to lender criteria and your individual circumstances.

Our Remortgages guide explains the process.

Should I use a mortgage broker for a large mortgage?

Larger mortgage applications can involve complex affordability and lender criteria.

A mortgage broker can help you understand your options and explore lenders based on your individual circumstances.

Why Choose Moveo Mortgages?

At Moveo Mortgages, we believe mortgage advice should begin with understanding the person behind the application.

A large income doesn't always mean a simple mortgage.

A successful business doesn't always produce straightforward payslips.

And a high-value property doesn't always fit every lender's criteria.

That's why we take the time to understand the full picture.

Our clients choose Moveo because we provide:

• Friendly, approachable mortgage advice

• Clear explanations without unnecessary jargon

• Access to a wide range of mortgage lenders

• Support with larger and more complex mortgage requirements

• Experience helping self-employed applicants and company directors

• Mortgage and protection advice

• Ongoing support throughout the mortgage process

Our aim is simple.

To help you understand your options and move forward with confidence.

Speak to a Large Mortgage Loan Broker

If you're purchasing a high-value property, moving home, remortgaging or require a larger mortgage loan, Moveo Mortgages is here to help.

We'll take the time to understand your income, circumstances and future plans before helping you explore your mortgage options.

Contact Moveo Mortgages today to discuss your large mortgage requirements.

Move forward with Moveo.

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