£4 Million Mortgage: Monthly Repayments & Income Requirements

To get a large mortgage of £4 million, you would typically need a deposit of at least 25%, with some lenders requiring a deposit of 30%. You’re also likely to need an income of at least £600,000 to be approved.

At the time of writing (November 2025), the approximate monthly repayments on a £4 million mortgage are £23,384. This is based on current interest rates being around 5%, a typical mortgage term of 25 years, and opting for a capital repayment mortgage. Based on this, you would repay £7,015,080 over the mortgage term.

In this guide, you’ll learn how to qualify for a £4 million mortgage, how much the repayments will be, and how to find a broker to help you secure the finances you need.

Can you get a £4 million mortgage?

Yes! It’s possible, assuming you meet the affordability checks and eligibility criteria for a £4 million mortgage. However, not every mortgage lender can offer a loan of this amount.

There are, however, lenders who specialise in large mortgages, though you’ll almost certainly need to use a mortgage broker to find the best deal.

Many people who can afford a mortgage of £4 million and up use private lenders specifically catering to high-net-worth individuals. These lenders are often only accessible through brokers.

How much does a £4 million mortgage cost per month?

What you repay will depend on your interest rate, mortgage term, and the type of mortgage you choose, such as a repayment or interest-only mortgage.

If you secure a mortgage with a longer term, you’ll typically make smaller monthly repayments but will likely pay more over the mortgage term.

It’s a good idea to speak to one of the advisors we work with to understand your repayments better. They can assist you in obtaining more favourable terms and lower repayments than you might secure on your own when trying to get a mortgage.

How much must you earn to get a £4 million mortgage?

Each mortgage provider will have its criteria for assessing affordability, but most will base their calculation on your annual income and multiply it by a fixed amount. The amount you can borrow is based on your salary.

This will typically be 4.5x earnings, but can be 5x earnings and may be as high as 6x earnings, though this is less likely when the borrowed amount is a larger sum.

If you qualify for a high net worth mortgage exemption, however, usual lending rules may not apply, and you may be able to take out a mortgage based on more than six times your income.

Although some mainstream mortgage lenders can provide loans of this size under the right circumstances, this is typically the domain of private mortgage lenders.

As illustrated in the table below, a salary of at least £600,000 per annum (or combined salary for a joint mortgage applicant) is typically required for a £4 million mortgage at the highest possible multiple.

How much deposit do you need for a £4 million mortgage?

Most lenders apply stricter criteria when assessing larger mortgage applications, which usually applies to deposits.

Of those lenders that offer upwards of £1 million, the vast majority require a deposit of at least 25%, which would amount to £1,000,000 if you want to raise a mortgage of exactly £4 million.

However, in the right circumstances, a specialist high-net-worth lender may be able to offer mortgages with a lower deposit.

This is usually only possible in cases where other assets are included in the calculation but could be an option for those with a healthy property portfolio.

How to get a £4 million mortgage

Once you’ve found a property and completed the necessary calculations, your next step should be to find an experienced mortgage broker. This will increase your chances of approval and help you secure the best available terms.

Using our broker-matching service, you can speak to the right broker straightaway by simply enquiring online.

They’ll be able to help with:

• Deposit requirements: To secure a £4 million mortgage, you must save a minimum 25% deposit. The exact amount required will depend on the property value. For example, for a £4,000,000 house, a 25% deposit would be £1,000,000.
• Reviewing and Optimising Your Credit Reports: It’s important to check your credit history before applying to ensure no bad credit issues exist and remove any inaccurate or outdated information that could hinder your chances of securing the mortgage you need.
• Gathering all the necessary paperwork for your application: Your broker will be able to guide you through the application process and all the typical documents required—proof of income, at least three months of bank statements, personal ID, proof of address, evidence of deposit, latest P60 form, etc.
• Determining Your Borrowing Capacity: Based on typical lender salary multiplier calculations, you might assume that £4 million is the maximum amount you can borrow for a mortgage. However, this may not be the case. A mortgage broker can assess your circumstances and eligibility for better deals from lenders, potentially allowing you to borrow more at better interest rates.
• Identify the Right Lender and Secure the Best Deal: Your mortgage broker can help you identify lenders offering the best interest rate terms. This can save you time and potentially money.
• Guiding you through the Mortgage Process: Getting a mortgage can be difficult, especially if it’s your first application. The right mortgage broker can help you with any issues you may face along the way, look after your interests, and be your lifeline in case anything goes wrong.

Example monthly repayments for a £4 million mortgage

The table below shows how monthly payments on a £4 million mortgage can change depending on the rate and term.

Interest-only mortgages

It’s sometimes possible to arrange a £4,000,000 mortgage on an interest-only basis under the right circumstances. Still, you will need to meet certain criteria and find a lender willing to offer high-net-worth mortgages on this basis.

The repayment amount for interest-only mortgages stays the same regardless of the loan term. For example, if the monthly repayment at a 6% interest rate is £20,000, it will remain the same whether you choose a 15-year or a 30-year term. This is due to the principal amount not decreasing and being paid off in full until the end using a separate repayment vehicle.

For these tables, we assume the interest rate stays the same for the full length of the mortgage. Interest rates can change if you remortgage to a different rate or move from a fixed or discounted deal to the lender’s standard variable rate (SVR).

With the Bank of England base rate currently at 4% (November 2025) and the average mortgage rate between 5% and 6%, the repayment figures along these rows in the table above would be the most realistic at present. However, this can change as and when the base rate changes.

Should you use a private mortgage lender?

There are benefits to using a private mortgage lender for a mortgage of £4 million or more, especially if you qualify for the high net worth exemption.

You’ll need an annual net income of £300,000 or assets worth £3 million or more to meet the high net worth criteria.

If this is the case, the usual lending rules may not apply to you, and you might be able to secure a bespoke mortgage deal.

Private lenders can offer asset-backed mortgages for customers whose wealth is tied up in their assets.

These agreements involve securing the loan against a valuable asset, such as a stock and shares portfolio.

Going down the private lending route is an option if you qualify for a high-net-worth mortgage, but it’s a good idea to compare the bespoke deals you’d qualify for from these lenders with what’s available elsewhere.

The best way to compare deals is through a broker specialising in high-value mortgages. They will have access to every lender offering them, including private mortgage providers who can only be approached through a broker.

Other factors that will affect your eligibility

When you’ve identified which providers are willing to authorise large loans, the process is much the same as that of a “regular” sized mortgage.

Similar factors and eligibility checks will apply to assess a borrower’s eligibility:

Loan-to-value ratios

Many lenders will cap the amount they are willing to loan at different levels depending on the loan-to-value (LTV) plus any other equity you have.

Higher-risk applicants (high LTV) are often subject to less competitive rates or more stringent lending caps, whereas low LTV borrowers may be free to borrow a far larger sum.

For example, one large loan provider may cap the amount you can borrow at £1.5 million for 90% LTV applications, £3 million at 80% and £4.5 million at 75% or under.

All lenders will have different criteria and lending caps in place, and depending on your other circumstances, a few providers may be willing to authorise a £4m mortgage at a higher loan-to-value. Most of these would, however, be private banks.

Affordability

When it comes to large mortgages, affordability can be especially key.

Most mainstream mortgage deals are limited to 4.5x their annual employee income, net profit for sole trader mortgages and partnerships, and salary + dividends if it’s a mortgage for a limited company director.

However, some specialist providers will consider extending these caps for affluent, high-end earners seeking large mortgages, which may allow a far higher maximum loan amount.

This can sometimes be up to or exceeding 6x your income.

Adverse credit

Mortgage providers perceive applicants with a history of adverse as riskier investments. Some may not lend to you, whereas others may impose rules, such as higher lending caps or lower LTV requirements.

Visit our bad credit mortgages section for further information.

Get matched with the right mortgage broker today

The best way to get a good deal on a mortgage worth £4 million or more is to speak to a broker specialising in large mortgages.

This will give you access to the entire market, including private mortgage lenders who cater to high-net-worth individuals.

We offer a broker-matching service that will quickly assess your needs and circumstances and pair you with the mortgage advisor who’s best positioned to help you get a great deal on a mortgage worth £4 million or more.

Call us on 0330 818 7026 or make an enquiry, and we’ll set up a no-obligation chat with your ideal mortgage broker today.