How much does a £750,000 mortgage cost?
Page edited and updated 25/11/2024.
Trinity Financial has access to a wide range of banks and building societies offering competitively priced £750,000 mortgages.
Nationwide for Intermediaries has access to a leading 4.09% rate fixed for five years and it is available to borrowers with a 40% deposit. This mortgage has a £1,499 arrangement fee.
The monthly repayments on a £750,000 interest-only mortgage would be approximately £2,556.25, increasing to £3,619.64 on a full capital repayment mortgage over a 30-year term.
The mortgage reverts to the lender's current standard variable rate of 7.49% unless borrowers remortgage or do a "product transfer". The overall cost for comparison is 6.4% APRC.
Some lenders offer more generous mortgage income multiples, potentially up to 5.5 times single and joint income. They also provide interest-only, part interest-only or full capital repayment to borrowers.
Nationwide's Helping Hand mortgage offers a 6 times salary income multiples
With a Helping Hand mortgage from Nationwide, you might be able to borrow more towards your first home. The building society offers first-time buyers specific five—and ten-year fixed rates and up to 6 times salary mortgages.
The minimum income requirement is £35,000 for sole applicants and £55,000 for joint applicants. All income sources (except self-employed income) can be included.
Other lenders also offer up to 5.5 times salary mortgages either to professionals like doctors, dentists, and lawyers, while higher earners can also access 5.5 times salary, provided they have a clear credit history. Halifax has also launched a first-time buyer scheme designed to offer more generous loan sizes.
How much is a £750,000 mortgage if you have a 25% deposit?
Barclays for Intermediaries currently offers a 4.37% fixed rate until 31 March 2030, and it is available to borrowers looking for a £750,000+ mortgage. The lender requires a 25% deposit, and the arrangement fee is £899.
If you wanted to borrow £750,000 over a 30-year term on full capital repayment at the 4.37% rate, the monthly repayments would cost £3,742.43 or £2,731.25 a month on interest only. This is over a 30-year term.
The mortgage reverts to the lender's current standard variable rate unless the borrower remortgages. The overall cost for comparison is 8.2% APRC.
Barclays is one of the lenders selected to offer some of the most generous income multiples. It offers up to 5.5 times the salary for single and joint applications, provided applicants earn over £100,000. The bank also offers five times salary mortgages to those earning over £45,000.
Single applicants requesting a residential interest-only mortgage must have an annual minimum income of £75,000 to meet Barclay's income eligibility criteria below. For joint applications, at least one applicant must have an annual minimum income of £75,000 or have a combined salary of £100,000.
£750,000 mortgages are cheaper when you take a five-year fix, but two-year fixes are popular
Mortgage rates have increased in recent months. Two-year fixes start at 4.10%, and trackers are priced at 0.20% over the current 4.75% Bank of England base rate.
Aaron Strutt, product director at Trinity Financial, says, "Mortgage rates have been going up although they seem to have stabilised. The Bank of England base rate seems unlikely to come down in December, although there may be multiple price improvements next year.
"If you want the lowest monthly repayments, you probably need to opt for a five-year fix. Although many borrowers have taken two-year fixes, hoping that rates will come down, fewer borrowers seem to be taking tracker rates. Two-year rates are much cheaper than they were a few months ago."
Call Trinity Financial on 020 7016 0790 to secure a £750,000 mortgage or book a consultation
The information contained within was correct at the time of publication but is subject to change.
Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage
Some of the lenders are happy to provide lower deposit and larger loan mortgages.
Accord for Intermediaries, Clydesdale for Intermediaries and Nationwide for Intermediaries are just some of the lender's our brokers have access to providing £750,000 mortgages for those with a 20% deposit.
It is possible to secure a £750,000 mortgage if you have a 15% or even 10% deposit through some lenders.
Trinity Financial specialises in arranging £750,000+ mortgages and our team of expert advisers do everything possible to secure the cheapest rates and the fastest mortgage offers.
More of the lenders have set up specialist lending teams to agree larger mortgage loans, and they have separate processing teams to underwrite applications.
We regularly work with clients over the phone to discuss applications and confirm the documentation we will require, and we also have Mayfair based offices where we meet clients.
Click on the link to view some of the mortgages we have arranged over the last ten years. https://www.trinityfinancialgroup.co.uk/case-studies/
You contact one of our consultants by calling 020 7016 0790 or complete our basic enquiry form or mortgage questionnaire for a more detailed initial response.
• You tell us what you are looking for and we assess your mortgage and financial protection needs based on your monthly
budget.
• We collect the information and documentation that the lenders and providers will need.
• Based on the information supplied, we provide you with illustrations for the most suitable products for your
circumstances.
• We then submit the application on your behalf to secure a mortgage offer as quickly as possible. This is once you have confirmed you are happy to proceed.
• We manage the application through to completion and liaise between all involved parties such as valuers, estate agents
and solicitors.
• Post-completion we are available for any questions. When you reach the end of your initial product, we are
also able to discuss any further mortgage, will or financial protection product requirements.
As part of our ongoing service commitment - we will contact your at least three months before your fixed or tracker rate expires to ensure you avoid reverting onto an expensive standard variable rate.
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