Mortgages for Prime London Homes in Kensington, Chelsea and Mayfair

Buying a home in Kensington, Chelsea, Mayfair, Knightsbridge or Belgravia often means borrowing beyond what high-street lenders are comfortable with. Large loan sizes, bonus-heavy or international income, and wealth held in investments rather than salary all make prime London mortgages different.

This guide explains how high-value residential lending works and how to prepare.

What counts as a high-value mortgage

There is no fixed definition, but many lenders treat loans above £1 million, or properties above £2 million, as specialist cases. Above these levels fewer lenders are active and each case is assessed more individually. Some high-street lenders still compete for straightforward cases, while private banks and specialist lenders handle more complex ones.

How lenders assess affordability

• Income: salary, bonuses, carried interest, dividends and rental income can all count, though lenders treat variable income differently.

• Assets: private banks may lend based on net worth and investments, sometimes alongside a wider banking relationship.

• Commitments: other mortgages, school fees and personal guarantees all affect affordability.

• Deposit: larger loans usually need 20% to 40% or more of the purchase price.

Repayment options

Interest-only lending is more widely available at the top of the market, provided you have a credible plan to repay the capital, such as investments, other property or an expected liquidity event. Many borrowers use part-and-part, with some of the loan on capital repayment and the rest on interest-only.

Common situations in prime London

• International buyers and UK residents with overseas income or assets

• Business owners, partners and company directors with complex income

• Purchases through a trust or with family support

• Mansion flats and period houses with short leases, listed status or non-standard construction

• Buying before selling, which may need bridging finance in the meantime

Preparing your application

• Income evidence: two to three years of payslips, tax returns or accounts, depending on how you are paid.

• Deposit and wealth: bank and investment statements showing where your deposit comes from. Lenders carry out thorough anti-money laundering checks on high-value purchases.

• Identity: proof of identity and address for every applicant.

• Property details: tenure, lease length and any known issues.

Costs to factor in

Stamp Duty Land Tax is a major cost at prime London prices, and higher rates apply if you already own another residential property. Also budget for lender and valuation fees, legal fees, a survey and, on leasehold flats, service charges and ground rent.

Who we help

Owner-occupiers buying or remortgaging a home to live in, in Kensington, Chelsea, Mayfair, Knightsbridge, Belgravia, Notting Hill, Holland Park, Marylebone, St John's Wood and Hampstead.

Next steps

Buying or remortgaging a home in prime London? Use our enquiry form to tell us about your plans. We review your requirements, package the case and introduce you to our specialist broker partner. Our service is free to clients. See how it works.

Kensington Real Estate Finance is an introducer and does not give mortgage advice. Advice is provided by our broker partner. Your home may be repossessed if you do not keep up repayments on your mortgage. This article is general information, not a recommendation.

Kensington Real Estate Finance is not associated with, affiliated with or endorsed by Kensington Mortgage Company Limited (trading as Kensington Mortgages, kensingtonmortgages.co.uk), company number 03049877, registered office Ascot House, Maidenhead Office Park, Maidenhead, SL6 3QQ.