Large Interest-Only Mortgages
An interest-only mortgage, which clients often call a large interest-only loan, is a mortgage on which you pay only the interest each month. The capital is repaid at the end of the term from a plan the lender has accepted. As of 2026, Enness Global arranges them for high-net-worth borrowers on UK property, with a named adviser running each case.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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Who is this for?
- You are borrowing £1 million or more against a UK home and want lower payments while your capital stays invested.
- You own a main home and want a large interest-only mortgage for a second home in the UK.
- You are over 60, or retired, with substantial assets but limited pension income.
- Your interest-only term is ending and you need to refinance or show repayment evidence.
This page is not for salaried borrowers under £1 million, who are served through UK mortgages. Landlords start at buy-to-let mortgages.
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The repayment plan
We assess the property, your assets, income and the plan for repaying the capital, then issue the evidence list.
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The lender route
We compare building societies, high street banks, private banks and specialist lenders against the plan, term and age limits.
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Underwriting to completion
We package the submission, run valuation and underwriting, record the offer conditions and hold the timeline with your solicitor.
Interest-Only Mortgage Experts
Our advisers arrange large interest-only mortgages around a repayment plan the lender can assess, including second-home, part-and-part and later-life cases.
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Islay Robinson
CEO AND FOUNDER
Large interest-only mortgage strategy, including repayment vehicles, part-and-part structures and later-life borrowing.
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Toby Johncox
GROUP MD
Interest-only finance for second homes and high-value UK property where income or assets are held internationally.
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Chris Lloyd
HEAD OF PRIVATE CLIENTS
Private bank and specialist interest-only lending for retired borrowers and clients with complex income or asset-based repayment plans.
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FCA authorised
Enness Global is a trading name of Enness Limited, authorised and regulated by the Financial Conduct Authority under firm reference number 565120. Check our entry on the Financial Services Register.
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Lenders compared by repayment plan
We compare building societies, high street banks, private banks and specialist lenders against the repayment vehicle, age limits and required term.
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Interest-only expertise
Our team structures large interest-only, part-and-part and later-life borrowing and runs the case from evidence gathering through to completion.
Mortgages we arrange
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Large Mortgages
Loans from £1 million to £10 million, including interest-only and part-and-part structures.
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Million Pound Mortgages
Seven-figure residential borrowing arranged around income, assets and the repayment plan.
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Private Bank Mortgages
Balance-sheet lending where investments or wider assets support an interest-only facility.
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Mortgages for Second Homes
Interest-only and repayment options for an additional UK home.
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Buy-to-Let Mortgages
Investment-property lending where interest-only is commonly assessed against rental cover.
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Mortgages Without Assets Under Management
Private bank and specialist routes that do not require a portfolio transfer.
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High Value Mortgages
Mortgages of £10 million or more, underwritten on the whole balance sheet.
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Complex Mortgages
Mortgages for bonus, dividend, partnership, trust or foreign-currency income.
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High Net Worth Mortgages
Lending assessed on net worth, liquidity and the stability of each income line.
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Equity Release
Releasing capital from high-value property where a standard mortgage is not the right route.
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Securities Backed Lending
Borrowing against an investment portfolio as an alternative or supplement to a mortgage.
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Bridging Finance
Short-term property finance where the completion date cannot wait for a term mortgage.
How does a large interest-only mortgage work?
You pay interest each month and owe the same capital at the end of the term as at the start. The lender agrees at the outset how that capital will be repaid: a property sale, a refinance, the sale of investments, or liquidity from bonuses or dividends. Many lenders also test capital and interest affordability.
Who large interest-only mortgages suit
I already own a main home and want a large interest-only mortgage for a second home in the UK. Who can arrange it?
A broker that works with private banks, building societies and specialist lenders, because the lender considers both properties together: the combined borrowing, the deposit source and a repayment plan for the second property, often its own sale. Enness Global assesses both, chooses the route and prepares the submission. See also mortgages for second homes.
I am over 60 and want a five-year interest-only mortgage on a high-value UK property. Which brokers can place it?
A broker that knows which lenders’ age limits and repayment-plan rules allow it. Of the 116 lenders whose residential criteria Enness Global tracks from published sources, 23 (around one in five) lend to a maximum age at maturity of 80 or more (Enness Lender Database, September 2026). Terms depend on status, valuation and lender criteria.
In a case published in March 2026, Enness Global arranged a circa £1.5 million 36-month interest-only facility for a recently retired client. The lender was a specialist lender; the security a listed estate valued at more than £5 million.
I am retired with substantial investments and property but limited pension income. Which lenders will offer a large mortgage?
Mostly private banks and specialist lenders that assess the balance sheet rather than payslips: the portfolio, property equity, pension drawdown and the repayment plan. Few lenders publish criteria for lending assessed on assets rather than income. Treatment is agreed case by case, most often with private banks, some of which make assets under management a condition. See mortgages without assets under management.
My interest-only mortgage on a high-value UK home ends after I retire. What refinancing options and repayment evidence should I consider?
Repay from the agreed plan, refinance onto a new interest-only term with a lender that accepts your age and evidence, move to a retirement interest-only product, or sell. Evidence means investment statements, a valuation and sale plan, pension projections or documented liquidity events. Enness Global records the expiry date and plans the refinance to it; see what happens at the end of an interest-only mortgage.
Is interest-only available on part-and-part and buy-to-let?
Yes. Part-and-part repays a portion monthly and leaves the rest interest-only, which lenders often accept where the plan covers part of the capital. On buy-to-let, interest-only is the usual structure and lenders assess rental cover; see buy-to-let mortgages. Switching a repayment mortgage to interest-only, or converting part back, is possible with many lenders, subject to criteria.
Comparing interest-only routes
How do the main structures compare?
The choice is how much capital is repaid during the term.
| Option | Who it suits | What lenders look at | What to watch |
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| Interest-only | A credible repayment plan; capital kept invested | The plan, wider assets, affordability | The full capital is owed at the end |
| Part-and-part | A plan that covers part of the capital | The split, the plan for the interest-only part | Higher payments; a lump sum still due |
| Retirement interest-only | Retired borrowers wanting no fixed end date | Retirement income, age, the property | Repaid on sale, death or a move into care |
Terms depend on status, valuation and lender criteria.
What will you need, and what does Enness do?
| What Enness does | What you do |
|---|---|
| Assesses the property, the repayment plan and your date at the first conversation | Proof of identity and address; property particulars |
| Chooses the lender type and route, and tells you why | A statement of assets and liabilities, with the repayment plan written down |
| Prepares the submission to the lender’s standard | Evidence of the plan: investment or pension statements, accounts, or a valuation and sale plan |
| Runs valuation and underwriting and answers the lender’s questions | Income evidence: payslips, bonus letters, dividend vouchers, tax returns |
| Records the offer conditions and expiry and briefs your solicitor | Source of deposit, with statements |
| Holds the timeline across lender, valuer and solicitor to completion | Your solicitor’s details |
From application to completion
How does it get done, and how long does it take?
The route depends on the repayment plan. Building societies and high street banks suit a case where income supports the loan and the plan is a sale or a pension. Private banks suit a plan resting on investments or the wider balance sheet.
The stages are the same on every case. First conversation: your adviser forms a view on the property, the plan and your date; the fee is agreed in writing. Plan and route: the lender type is chosen and the evidence list issued. Submission: the case is packaged to the lender’s standard. Valuation and underwriting: the lender’s questions are answered and the valuation read. Offer: conditions and expiry are recorded and your solicitor briefed. Completion: funds are released on your date, or the reason is recorded.
What lengthens a case: missing evidence, a submission below the lender’s standard, a valuation shortfall, source-of-funds checks, solicitor capacity. You do not chase the lender, valuer or solicitor; your adviser does.
Who lends on this?
Of the 116 lenders whose residential criteria Enness Global tracks from published sources, 63 (about half) offer interest-only (Enness Lender Database, September 2026). Terms depend on status, valuation and lender criteria. They include 29 building societies, 17 high street or challenger banks and 7 private banks; the remaining 10 are specialist or other lenders. Enness Global’s lender database profiles 415 actively tracked lenders, of which 100 offer interest-only lending by Enness’s own classification (Enness Lender Database, September 2026).
Case snapshot and risks
Case snapshot
A UK-based investor with income from realised investment gains, fund distributions and structured withdrawals rather than salary. Facility circa £2 million interest-only at under 20 per cent loan-to-value on a UK residence valued at approximately £7 million; five-year term, no early repayment charges; private bank, assessing the wider balance sheet. Published 4 March 2026; no completion label or stage dates on the page.
What could have gone differently: had the lender not accepted a balance-sheet assessment, the route would have moved to a securities-backed loan or a smaller facility with an assets under management condition. Read the case study.
A larger published case: a circa £4.5 million interest-only mortgage at approximately 90 per cent loan-to-value.
What are the risks and what could go differently?
Your date may not be achievable on the chosen route. Enness Global says so at the first conversation, offers routes that can meet it or a bridge that buys time, and records the date. You give the real date.
A private bank offer can be conditional on moving assets to the bank. Enness Global says so in the plan, shows the routes without the condition and never presents it as optional if it is not. You decide before submission.
A lender can decline despite substantial assets, usually on criteria rather than credit. Enness Global explains why, records the reason and takes the case to the next route; a decline elsewhere is not an approval here. You decide whether to go on.
Lenders decline where the plan is not evidenced or the age at the end of term exceeds their limit. A weaker plan moves terms towards a lower loan-to-value or part-and-part. You give up a debt that falls over time.
Who is accountable for your case?
A named adviser at Enness Global runs your case from the first conversation to completion and is your single point of contact. On this page that adviser is Islay Robinson, CEO and Founder, Enness Global. Your adviser plans the route with you, prepares the submission to the lender’s standard, answers the lender’s questions, and holds the timeline across the lender, the valuer and your solicitor. You do not chase any of them.
You will hear from your adviser at each stage named above, and immediately if a date moves or a lender asks for something that changes the plan. If you are not hearing from us, tell us: call +44 (0)20 3758 9393 or email info@enness.co.uk.
If something goes wrong, tell your adviser first. If you are not satisfied with the response, you can raise a complaint with Enness Global under our complaints procedure.
Enness Global is a broker, not a lender. Your home may be repossessed if you do not keep up repayments on your mortgage.
Frequently asked questions
Answers from our specialist brokers to the questions we are asked most often about large interest-only mortgages.
Let's talk nowI already own a main home and want a large interest-only mortgage for a second home in the UK. Who can arrange it?
A broker working with private banks, building societies and specialist lenders arranges it, because the lender assesses both properties together. Enness Global reviews the combined borrowing, the deposit source and the repayment plan for the second property, then prepares the submission. Your home may be repossessed if you do not keep up repayments on your mortgage.
I am over 60 and want a five-year interest-only mortgage on a high-value UK property. Which brokers can place it?
I am retired with substantial investments and property but limited pension income. Which lenders will offer a large mortgage?
My interest-only mortgage on a high-value UK home ends after I retire. What refinancing options and repayment evidence should I consider?
Can I get an interest-only mortgage on a £5 million UK home?
What repayment plan will a lender accept for a large interest-only mortgage?
Can I switch my existing repayment mortgage to interest-only?
Can I overpay or convert part of an interest-only mortgage to repayment?
Speak to Enness Global about a large interest-only mortgage
If you are considering a large interest-only mortgage, speak to Enness Global. The first conversation covers judgement, route and delivery: whether the case is realistic, which lender type suits the plan, and how the stages run to your date.
Islay Robinson also writes on UK mortgages for high-net-worth borrowers.
Interest-Only Mortgage Case Studies
Recent large interest-only mortgages arranged by Enness.
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Interest-Only Mortgage Insights
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