How does one go about getting a mortgage for a £1.5 million mansion?

JoJoBarbie

And how much deposit needs to be put down?

Thanks

HappyMJ

Simply by applying for it. A broker would be best for this amount and they'll advise you on what deposit you will need. Minimum 10% but 25% will give you the best interest rate.

koexelek

Most of us brokers would not deal with small fry stuff like that though

If the client does not need to borrow at least £5m, it's hardly worth bothering with

[Deleted User]

Sneak in the back window and just change the locks.

Leon_W

It has nothing to do with size of deposit.

Mortgages have to be affordable so it depends on what you earn.

Therefore if you earn £20k a year you will need a deposit of £1,420,000 and you might find someone willing to lend £80k to make up the difference :beer:

flossy_splodge

Or you can go to a merchant bank or even see if there are any medium businesses with profit to invest. You'd getter a slightly better rate and they'd get a much better return.
You might be surprised that this is not so rare a scenario as you may believe.
Good luck.