With mortgage rates at an all time low in 2020 a £1 million-pound mortgage is cheaper than ever. The mortgage market for million-pound mortgages is once again competitive and borrowing up to 90% on a £1 million pound property is achievable. The lowest interest rates are reserved for clients with a 40% plus deposit. 

As of July 2020 Fox Davidson, can secure a mortgage of £1 Million pounds at 60% loan to value at a competitive rate of 1.17%. The overall cost for comparison is 3.8% APRC.

This product has a fixed lenders arrangement fee of £999. There is a free basic property valuation and £250 cashback paid to your lawyer on completion.

For clients that wish to lock into fixed money for a longer period we can secure a competitive 5 years fixed rate at 1.39%. This has an overall cost for comparison of 3.2% APRC, a £1,499 lenders fee and a free valuation.


What are the monthly mortgage payments on a £1 million pound mortgage?


If you were to borrow £1 million the mortgage repayments will cost £3,846pm at a fixed rate of 1.17% for 2 years. Or £975pm on an interest only basis.
Please do use the million-pound mortgage calculator to work out your monthly repayments for borrowing upwards of  £1 Million pounds.


FAQ’s:

How much deposit do I need for a Million-pound property?

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Some large loan mortgage lenders will lend up to 90% loan to value. Therefore a 10% deposit would be sufficient to purchase a property upwards of £1 million.

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Will mortgage lenders accept income paid in a foreign currency?

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Certain mortgage lenders will accept income paid in a foreign currency. This includes US dollars, Euros, Dirhams and Swiss Francs among others. Some lenders will factor in a currency fluctuation of up to 25% but in general for large loans above £1 million income paid in a foreign income is acceptable.

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Do mortgage lenders accept income from commission and bonuses?

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Since COVID in 2020 lenders will accept income from commission and bonus but will look to see current commission levels earned in the last 3 months. Where annual bonuses are paid lenders will seek to gain some form of confirmation of the current years’ bonus. As high net worth brokers our job is to place the business with a lender that understands and appreciates our client’s total compensation package.

Other assets are taken into consideration including vested shares and allowances such as car and living allowances.

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Can I offset savings when borrowing £1 million pounds plus?

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£1 million plus offset mortgages allow you to offset savings held in a linked savings account. These mortgages are very popular with clients that hold large cash sums in savings accounts. 

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Fox Davidson Private Finance

Fox Davidson specialise in large loans. We work with global clients to secure lending upwards of £500,000 secured on property in the UK. We work with all types of clients and secure finance on residential and commercial property for owner occupation or investment.

We have offices at which we can meet clients in Bath, Bristol, Exeter & London, or we can work by phone and email. We are finding success completing initial meeting via zoom and other online meeting portals, this minimises everyone’s time spent travelling and ensures we can work more efficiently for our clients.

To discuss £1 million pound mortgages please do call, email, or complete our short enquiry form and one of our advisers will be delighted to provide you with the required help and advice.


A mortgage is a loan secured against your home or property. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.