£5 Million Mortgage: Monthly Repayments & Income Requirements

To get a large mortgage of £5 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 £700,000 to be approved.

At the time of writing (November 2025), the approximate monthly repayments on a £5 million mortgage are £29,230. 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 £8,768,851 over the mortgage term.

This article covers how to get a mortgage for £5 million or more, how to find a suitable lender, and what other factors are considered before a mortgage provider will authorise an application for a loan of this size.

Can you get a £5 million mortgage?

You might find it difficult to get a mortgage of this amount on the high street as many lenders have maximum loan caps that prevent them from offering loans £5 million, but some private lenders have no such restrictions.

Private mortgage lenders specialise in high-net-worth individuals who need mortgages larger than those available on the high street.

If you meet the affordability criteria for a £5 million mortgage, the right lender will consider offering you a bespoke deal.

One thing to bear in mind, though, is that private lenders can be difficult to find and approach without the help of a mortgage broker.

Our network advisors work exclusively with high-net-worth customers and have deep working relationships with the mortgage providers you’d need to approach.

How much does a £5 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 £5 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 £700,000 per annum (or combined salary for a joint mortgage applicant) is typically required for a £5 million mortgage at the highest possible multiple.

How much deposit do you need for a £5 million mortgage?

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

Most lenders that offer mortgages above £1 million require a deposit of at least 25%, which would amount to £1,250,000 if you are looking to raise a mortgage of exactly £5 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 £5 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 £5 million mortgage, you will need to save a minimum 25% deposit. The exact amount required will depend on the property value. For example, for a £5,000,000 house, a 25% deposit would be £1,250,000.
• 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 £5 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 £5 million mortgage

The table below shows how monthly payments on a £5 million mortgage can change depending on the rate and term.

Interest-only mortgages

It’s sometimes possible to arrange a £5,000,000 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 £25,000, 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 decide to 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.

How to find the right lender

The high-net-worth mortgage brokers we work with will do that for you! They know exactly which private lenders are best equipped to offer you a mortgage of £5 million or more, and they can negotiate a bespoke deal with them on your behalf.

By using a specialist broker, you can rest assured that you will be matched with the right lender the first time, one who is the best fit for your needs and specifications. For example, if your wealth is tied up in assets, your advisor will pair you with a lender who offers bespoke asset-backed mortgages.

Make an enquiry to get started, and we’ll match you with a high-net-worth mortgage advisor who has the knowledge, experience, and lender contacts that you need.

Why is it more difficult to get a mortgage of this size?

Finding a willing mortgage lender is the most common issue for those looking to take out a mortgage for as large as £5 million and up.

Many mainstream providers have limits on how much money they will lend a potential borrower due to the associated risk; after all, spreading the load across multiple applicants is far less risky than authorising one large mortgage.

Moreover, higher-value loans require additional specialist treatment and expertise than you would expect with your average mortgage, meaning fewer providers can cater for your needs.

This leaves private banks as the most likely source of a high-value mortgage, and many of these are only approachable through a mortgage broker.

Other factors that will affect your chances of approval

The thing to remember about mortgages of £5 million and up is that the terms and criteria can be bespoke if you qualify for a high net worth exemption.

The following factors might still be considered when the lender is assessing what kind of deal you qualify for…

Talk to a high-net-worth mortgage expert today

The best way to get a mortgage of £5 million or more is to speak to a broker specialising in high-net-worth lending. This will give you access to the entire market, including lenders with no maximum loan amount and private mortgage providers.

We offer a broker-matching service that will consider your needs and circumstances to pair you with the mortgage advisor who’s best placed to help you land a great bespoke deal on a mortgage of this amount.

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