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 Clifton Private Finance

1 Million Pound Mortgage Calculator

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 1 Million Pound Mortgage Calculator

We work with select high street and private banks that will look at your requirement on a bespoke basis. Seeking to secure a mortgage over £1 million? Our specialist calculator provides indicative monthly repayments to inform high value borrowing decisions.

Our service provides:

1 Million Pound Mortgage Calculator

1 Million Pound Mortgage Calculator

Your repayments

Based on the figures entered, we think your second mortgage will cost:

Repayment: (Capital & Interest)

Interest Only:

This information is computer-generated. It has only been designed to give a useful general indication of costs. Make sure that you read the separate key facts lender illustration before you make a decision. To get a full mortgage quote contact us.

How to use the calculator

1

Input the loan amount

You can borrow from £1 million up to £25 million. Bear in mind that the higher your loan to value, the higher the interest rate will be.

2

 Select the length term 

Choose between 10 and 40 years. The longer the term, the lower your monthly repayments will be, but the more interest you'll pay overall.

3

Estimate your interest rate.

Rates cary from case to case, but take a look at our current rates table below for some estimated figures.

The calculator will display a breakdown of potential monthly costs, splitting out interest and capital portions.

This enables you to model different combinations of mortgage size, timeframe and rate to gauge affordability. You can adjust the numbers to find a solution fitting your budget and financial goals. However, actual rates available depend on personal circumstances. For a tailored quote, please don’t hesitate to get in touch.

1 Million Pound Mortgage Rates

2 Year Tracker

Up to £5m

4.94% APR

2 Year Tracker

Subsequent rate 6.99%

LTV - 60%

APRC 8.4%*

Product Fee £999

Free standard valuation

Early redemption charges

As of 10th January 2024

5 Year Fixed

Up to £1.5m

3.89% APR

5 Year Fixed (Remortgage)

Subsequent rate 6.25%

LTV - 60%

APRC 6.1%*

Product Fee £999

Early redemption charges

As of 10th January 2024

2 Year Fixed

Up to £1.5m

4.44% APR

2 Year Fixed (Remortgage)

Subsequent rate 6.25%

LTV - 60%

APRC 6.1%*

Product Fee £999

Early redemption charges

As of 10th January 2024

Contact Us

Thank You for your interest - please complete the form below and a member of our team will be in contact.

Call us on 0203 900 4322 to discuss your requirements or request a call-back at a time that suits you

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What is a 1 Million Pound Mortgage Calculator?

A million pound mortgage calculator shows the potential monthly cost based on these variables. It can be a useful tool that allows you to estimate the monthly repayments on loans over £1m.

For example, you could contrast a £1 million loan over 25 years at 4.5% interest versus a £1.5 million mortgage over 20 years at 5% interest. Trying different combinations gives a feel for how the substantial numbers stack up. This assists to find a solution fitting your individual budget and longer-term repayment capabilities when dealing with seven figure lending.

What Are 1 Million Pound Mortgages Used For?

These substantial mortgages provide the capital needed to purchase high-value residential property, expand rental portfolios or access equity in other ways. Large mortgages are secured against your asset, similar to standard mortgages. The key difference is the more significant loan amounts advanced.

Potential uses include:

  • Purchasing homes over £1 million
  • Property investment and development
  • Consolidating debts
  • Lifestyle expenses
  • Business needs

With flexible criteria spanning income sources, credit profiles and property types, our expertise helps high net worth individuals secure the lending required.

Loans over half a million pounds demand greater understanding across rates, repayment options and affordability considerations too.

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Bespoke Lending for £1m+ Mortgages

While the calculator offers insight, actual products available depend on personal criteria.

Through our panel of niche lenders, we source tailored lending beyond high street limitations. This includes:

  • Loans from £1m up to £25m
  • High LTV ratios - up to 95%
  • Flexibility on debt-to-income ratios
  • Interest-only and offset options
  • Complex income sources
  • Expats and non-doms
  • Portfolio landlords and HMOs

Our expertise navigates nuanced eligibility and delivers rapid decisions on agreeable terms unavailable elsewhere. We realise life rarely fits neat tick-boxes. So our manual underwriting secures exceptions beyond generic scoring. Whatever your circumstances, we identify lenders who'll recognise your situation on its own merit rather than focusing solely on stringent criteria.

Unlike traditional lenders, Clifton Private Finance regularly works with clients to find large mortgages for £1million properties. We have a wide range of contacts with high street and private lenders, meaning we can help find you the finance you need.

See our recent case studies helping clients to find million pound mortgage finance

Early Remortgage for Law Firm Partner Locks in Low Rate
Early Remortgage for Law Firm Partner Locks in Low Rate
Area
Buckinghamshire
Capital Raised
£1m
Private Bank Bridging Loan for Renovation of Type B Listed Property
Private Bank Bridging Loan for Renovation of Type B Listed Property
Area
Fife
Capital Raised
£1.4m
Fast £1.4m Mortgage For HNW Couple For Dream Home In Richmond
Fast £1.4m Mortgage For HNW Couple For Dream Home In Richmond
Area
Richmond
Capital Raised
£1.4m
Case Study: High Value Bridging Loan for Semi-Commercial Property
Bridging Loan for Semi-Commercial Property with Complex Exit Strategy
Area
Bath
Capital Raised
£2.55m
Case study: £1.2M Bridging Loan for Property in South Africa
Bridging loan on UK property to Purchase Home in South Africa
Area
Cape Town
Capital Raised
£1.2M
Securing a Residential Mortgage for a £20 Million Surrey Home
Securing a Residential Mortgage for a £20 Million Surrey Home
Area
Surrey
Capital Raised
£13m

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Understanding £1 Million Pound Mortgages

When borrowing sums exceeding seven figures, understanding key features is important:

  • Loan-to-Value (LTV) Ratio: Indicates percentage of property value borrowed - e.g. 75% LTV means £750k loan on £1m house. As less equity, lenders perceive higher risk so charge elevated rates. But private banks focus more on full profile than just LTV ratios.
  • Debt-to-Income Ratio: Measures total debt vs gross annual income. Aims to quantify surplus income after existing liabilities to gauge new lending capacity. Different lenders range between 85-120% although most cap around 100%. With strong overall credit, higher ratios may be workable.

What do Lenders Consider for 1 Million Pound Mortgages

When applying for a large mortgage, over a million pounds, the loan amount offered will still depend on several key factors. Here’s a quick run-down:

  • Income and Assets Assessment: Individuals with higher net worth gain access to more substantial sums. Our evaluation takes into account complex income sources, ensuring a comprehensive understanding of your financial standing.
  • Portfolio and Liabilities Analysis: We consider your existing portfolio, performance history, and headroomfor new lending. This holistic approach factors in your overall exposure to ensure a tailored lending solution.
  • Property Equity and Loan-to-Value (LTV) Considerations: While loans above 95% LTV are available, they come with elevated interest rates. Our service provides a nuanced evaluation of your property equity and LTV, guiding you toward the most suitable financing options.
  • Credit Profile Examination: Our thorough assessment includes a review of personal and company credit reports, defaults, CCJs, and more. This comprehensive analysis ensures a clear understanding of your credit profile, facilitating the identification of optimal mortgage solutions.

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1 Million Pound Mortgage Calculator

Securing a Million Pound Mortgage

In response to the escalating value of houses, there is a growing demand for million-pound mortgages.

High Street Bank Financing

High street lenders are showing an increased interest in extending mortgage deals exceeding one million pounds. Several lenders have dedicated mortgage teams specifically catering to loans over £1 million.

Exploring Private Bank Solutions

To secure a million-pound mortgage, an alternative avenue involves reaching out to a specialised property finance broker with established connections to private banks.

Private banks differentiate themselves by offering a more personalised service tailored to your unique situation. It's crucial to note that qualification for private bank services typically requires one of the following:

  • An annual income exceeding £300,000
  • Net assets totaling £3 million
  • A deposit equivalent to 25% of the property value, though this is subject to individual client circumstances.

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Using a 1 Million Pound Mortgage Broker

When it comes to securing a million-pound mortgage, the guidance of a comprehensive market broker is paramount. Our seasoned advisers possess a greater understanding of specific lender appetites, especially in nuanced areas like complex income streams, overseas buyers, and portfolio landlords. We are adept at identifying tailored solutions that align with your unique needs.

We streamline the entire process for you, managing interactions with lenders, navigating complex documentation, and setting clear expectations at every step. This not only saves you considerable time but also ensures a smooth journey by deciphering criteria and presenting suitable options from a pool of over 20 products.

As an independent entity, we prioritise your needs over sales targets or restricted panels, ensuring that the mortgages we source are tailored to your requirements. Benefit from exclusive deals that offer highly favorable terms, which may not be accessible when going direct.

Securing financing exceeding half a million demands expertise, and our large mortgage calculator, along with specialised services, empowers you to make well-informed decisions to obtain the funding you require.

To discuss your specific situation or request a call-back, please get in touch today at 0203 900 4322

Book Consultation »

FAQs

How reliable are the results from the 1 Million Pound Mortgage Calculator? 

Our calculator provides estimates based on standard mortgage formulas. While it offers a reliable snapshot, keep in mind that actual rates and terms may vary based on lender policies and market conditions. Take a look at our mortgage rates at the top of the page.

Is this calculator suitable for various types of mortgages?

Yes, the calculator is versatile and can be used for different mortgage types, including fixed-rate and adjustable-rate mortgages. It's a valuable tool for understanding the financial implications of a 1 million pound mortgage across various scenarios.

Can the calculator help me assess affordability?

Absolutely! Beyond monthly payments, the calculator helps you evaluate the overall affordability of a 1 million pound mortgage by considering your financial situation and potential future changes.

Are property taxes and insurance included in the calculations?

The calculator focuses on principaland interest payments. While it doesn't factor in taxes and insurance, we recommend considering these costs separately to get a comprehensive view of your total homeownership expenses. 

Can expats and foreign nationals secure 1 Million Pound Mortgages in the UK?

We collaborate with specialised lenders who cater to overseas residents seeking 1 Million Pound Mortgages for property purchase or remortgaging in the UK. Approval is subject to individual financial status, but it is possible for us at Clifton Private Finance to help both expats and forgeign nationals secure a larger mortgage, or one over a million pounds.

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Get in Touch

If you have any questions about our services or want to start making things happen please contact us