£850,000 Mortgage

tailored to you. 

suitable for you

Let us put you in touch with expert mortgage advisors who will give you impartial advice and help you find low % £850,000 mortgage products.

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Our Office is open 9am-5pm from Monday to Friday. Please contact us by either phone or email, using the contacts below.

Phone number 01332 821340
Office Address 4 Chatsworth House, Prime Business Centre, Raynesway, Derby, DE21 7SR
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£850,000 mORTGAGES 

If you’re thinking about getting an £850,000 mortgage you might have questions or queries you want answered before you submit your application or before you find a mortgage product or lender you are interested in. Mortgages can be detailed and overwhelming when you start getting to the finer details, but by speaking to one of our friendly and experienced advisers at Finance Advice Centre, you will get all the information and help you need to not only find the most suitable products and provider to suit your financial circumstances, but also full support and guidance in applying for your mortgage itself. Let’s look at some common questions borrowers want to know about £850,000 mortgages.

How do I provide evidence of my income for an £850,000 mortgage?

This will depend on whether you are employed or self-employed, but your lender will likely ask for evidence in the form of:

Bank statements

Pay slips

Tax returns

When working out your affordability for an £850,000 mortgage, lenders will also look at your outgoings such as:

Household bills

Any debts you might have including credit cards or car finance payments

Other possible outgoings for example travel costs or childcare

If the lender feels that your current circumstances will not easily allow you to repay your mortgage, your outgoings, and any maintenance and repairs that might be needed on the property, they are unlikely to approve your loan. However, if they conclude that your income is sufficient enough to cover your repayments and other outgoings it is possible to get approved for an £850,000 mortgage..

How much do I need to earn for an £850,000 mortgage?

There isn’t a definitive answer to this question because there is not necessarily a minimum income required to be accepted for a mortgage. The lender will look at a range of other factors, as well as your income, such as your credit history, and the term of the mortgage, in order to determine if you are suitable for a loan. That being said, UK lenders will often use income multiples when considering mortgage applications.

A lot of lenders use a multiple of 4.5x your yearly salary, others may use 5x, and in certain circumstances, a small number of lenders use multiples of 6x a person or household’s annual income. Higher income multiples tend to be accepted when applicants are deemed to be good borrowers, meaning they have a high credit score and a history that shows evidence of reliable, timely payments.


Can I get a buy-to-let (BTL) mortgage for £850,000?

It may be possible to get a buy-to-let mortgage for £850,000, but it could be easier for you if you have the help of an adviser from Finance Advice Centre. This is because we know which lenders will be most likely to accept your application and give you the best chance of being approved.

Some lenders can be apprehensive about providing mortgages with higher LTV ratios and so might ask you for a higher deposit. Your other circumstances may also have an effect on how much deposit you will need for a BTL mortgage, but you can typically expect to put down a deposit of between 20% and 40% of a property’s market value. So, if you were to apply for an £850,000 mortgage you could need a £340,000 deposit. 

As a mortgage is secured against your home it could be repossessed if you do not keep up the mortgage repayments.

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Whole of Market Mortgage Advice

Being able to give ‘Whole of Market’ Mortgage Advice means that we have access to the widest range of lenders. These lenders include “High Street Banks, “Challenger Banks and Building Societies . However, just because a mortgage advisor has access to the Whole of the Market, doesn’t mean that they necessarily have the right knowledge or expertise to be able to give you the right Mortgage Advice and therefore the best products. We believe that Finance Advice Centre is very different. Our Advisers are all trained with specialist complex cases in mind. No matter how challenging your situation, if there’s a solution for you, we’ll do everything we possibly can to find it!

We especially enjoy working on complex mortgage cases. One example is if you’re trying to get a mortgage but have only just started a new job. Many lenders will require you to have been working in that role for a set amount of time. Having access to the Whole of Market wouldn’t necessarily mean that all advisors giving Mortgage Advice know which lenders to place your case with even though they are able to use all of them. Clients who are recently self employed or contractors often cause other advisors problems. However, our advisors specialise in these types of cases and deal with them every day.

Finance Advice Centre Ltd is an appointed representative of Finance Advice Group Ltd, which is authorised and regulated by the Financial Conduct Authority in respect of mortgage and insurance mediation activities only. Finance Advice Group Ltd is entered on the Financial Services Register https://register.fca.org.uk/ under reference 624517.

Some types of buy to let mortgages are not regulated by the Financial Conduct Authority.

As a mortgage is secured against your property, it could be repossessed if you do not keep up the mortgage repayments.