HTG Mortgages
High value and million pound mortgages in Hampshire
Mortgages from £400,000 upwards
I arrange mortgages from £400,000 upwards, up to million pound loans and beyond, for purchases and remortgages in Hampshire and across the UK. I work with more than 120 lenders, including high street premier ranges for higher earners and private banks, and my fee is a flat £350 whatever the size of the loan.
A flat £350 fee, payable on mortgage offer, whatever the loan size.
120+ lenders, including high street premier ranges and private banks.
I handle your case myself, from the first call to completion.
Ask me about a larger mortgage
As featured in…
Monthly payments by loan size
What are the monthly payments on a £400k to £800k mortgage?
At these loan sizes people want to know the monthly payment first, so I have written a separate page for each amount. Each one sets out repayment and interest only figures at example rates, the income lenders look for, and the deposit and stamp duty on the matching house price. The figures below are repayment over 25 years at an example 4%.
£300k mortgage monthly payments: about £1,584 a month
£400k mortgage monthly payments: about £2,111 a month
£500k mortgage monthly payments: about £2,639 a month
£600k mortgage monthly payments: about £3,167 a month
£700k to £800k mortgage monthly payments: about £3,695 to £4,223 a month
The table compares the main loan sizes at two example rates, again over 25 years.
| Loan | Repayment at an example 4%, per month | Repayment at an example 5%, per month |
|---|---|---|
| £400,000 | £2,111 | £2,338 |
| £500,000 | £2,639 | £2,923 |
| £600,000 | £3,167 | £3,508 |
| £750,000 | £3,959 | £4,384 |
| £1,000,000 | £5,278 | £5,846 |
Illustration only. These figures are worked out on the mortgage amounts shown at the example interest rates shown, with the rate staying the same for the whole term and payments made monthly. They are not a quote, not an offer of credit and not the rates lenders are offering today. They leave out product fees, valuation and legal costs, and any change in rate when a fixed or tracker period ends, so your actual payments and the total you repay will be different. The rate you are offered depends on the lender, your deposit, your income, your credit history and the product you choose. Figures are rounded to the nearest pound. On interest only the monthly payment covers the interest alone, so the full loan is still owed at the end of the term and you need a way of repaying it that the lender accepts. Your home may be repossessed if you do not keep up repayments on your mortgage.
A longer term lowers the monthly payment and adds to the total interest you pay over the life of the loan.
Professional and complex income
Lenders do not all treat income the same way. Basic salary is the simplest to assess. Allowances, locum work, bonus, and dividends or retained profit from your own limited company are each treated differently, and one lender may count income that another leaves out.
Across my panel, 4.5 to 5.5 times income is the usual accepted range, and I have placed a case at 6 times income. That is one case, not a rule. Where your figure lands depends on how each lender reads your income and your commitments, lender by lender.
I have written separate pages on mortgages for doctors, dentists, accountants, NHS staff, limited company directors and contractors, which go into how lenders treat each type of income. A recent case: two NHS doctors with salary, allowances and locum income, mortgage offer two weeks after they first got in touch.
What are the monthly payments on a million pound mortgage?
On a £1,000,000 mortgage over 25 years, repayment is about £5,278 a month at an example 4% and about £5,846 at an example 5%. On interest only it is about £3,333 a month at an example 4%. These are illustrations, not quotes.
| Example rate | Repayment, per month | Total repaid over 25 years | Interest only, per month |
|---|---|---|---|
| 3% | £4,742 | £1,422,634 | £2,500 |
| 4% | £5,278 | £1,583,511 | £3,333 |
| 5% | £5,846 | £1,753,770 | £4,167 |
| 6% | £6,443 | £1,932,904 | £5,000 |
Illustration only. These figures are worked out on a £1,000,000 mortgage at the example interest rates shown, with the rate staying the same for the whole term and payments made monthly. They are not a quote, not an offer of credit and not the rates lenders are offering today. They leave out product fees, valuation and legal costs, and any change in rate when a fixed or tracker period ends, so your actual payments and the total you repay will be different. The rate you are offered depends on the lender, your deposit, your income, your credit history and the product you choose. Figures are rounded to the nearest pound. On interest only the monthly payment covers the interest alone, so the full loan is still owed at the end of the term and you need a way of repaying it that the lender accepts. Your home may be repossessed if you do not keep up repayments on your mortgage.
The income a lender needs to see depends on the multiple it uses. At 4.5 to 6 times income, single or joint, a £1,000,000 loan works out like this.
| Income multiple | Income needed (single or joint) |
|---|---|
| 4.5 times | £222,222 |
| 5 times | £200,000 |
| 5.5 times | £181,818 |
| 6 times | £166,667 |
Loans, credit cards, childcare and other commitments reduce what a lender will offer, so the table is a starting point rather than an answer.
Can I get a large mortgage on interest only?
Some lenders offer residential interest only on larger loans, and their rules differ. On interest only the monthly payment covers the interest, and the full loan is still owed at the end of the term.
Lenders ask for a repayment method they accept, and some also want evidence that your earnings continue into retirement. Part and part is another option: some of the loan is on repayment and the rest on interest only, so the monthly cost sits between the two and part of the debt is cleared over the term.
I cover the criteria in more detail on my interest only mortgages page.
Private bank or high street?
Private banks look at your wealth and income together, rather than income alone, and they can suit complex cases such as income from several sources or money held in investments.
Higher earners can often access the premier ranges that high street lenders run for people on higher incomes. I place cases with both, and which one fits depends on your income, your assets and the size of the loan.
What fees should I expect on a large mortgage?
Product fees vary from lender to lender and from product to product. Paying a fee can buy a lower rate, and on a large loan a small difference in rate adds up over the term, so the trade-off between the fee and the rate is worth working out for the amount you are borrowing.
Valuation and legal costs come on top. My own fee is a flat £350, payable on mortgage offer, whatever the size of the loan.
Book a free call
Tell me the price range, your deposit and how you are paid, and I will come back to you with what the payments and lender options look like. No obligation.
Do lenders accept bonus and commission income on a large mortgage?
Some do, but lenders treat bonus and commission more cautiously than basic salary because the amount can change from year to year. How much of it counts, and how much history they want to see, varies lender by lender.
Where income is irregular or wealth sits in assets rather than salary, I also look at private banks, which assess the whole picture. I check how lenders on my panel treat your pay before an application goes in.
Can I use foreign currency income to qualify?
Some lenders accept income paid in a foreign currency, but they apply a discount to allow for exchange rate movements.
For example, on a salary of €110,000 a lender might count only about £80,000 for affordability. The discount varies by lender.
Major currencies are accepted by some high street lenders. A less common currency narrows the list and can make approval harder.
How does a broker help on a large mortgage?
On a large loan a small difference in rate adds up. If rates fall after you have an offer, I can recheck the rates up to completion and look at switching where the numbers work.
I work with more than 120 lenders across Hampshire and beyond, including high street premier ranges and private banks, on repayment, interest only and part and part mortgages. My fee is a flat £350, payable on mortgage offer, whatever the loan size.
Why use HTG Mortgages?
Flat £350 fee, payable on mortgage offer
120+ lenders, including premier ranges and private banks
One adviser from first call to completion
Speak to Harry
If you are buying or remortgaging with a loan of £400,000 or more, book a call with Harry. Which lender and structure fit depends on your income, deposit and plans, and working that out is what an advice appointment is for.