Mortgages without Assets Under Management

If you have complex large loan requirements, it’s likely you’ll need to work with a private bank to negotiate the solution you need. However, many private banks require their clients to place assets under management (AUM) in order to secure a large loan. Securing ultra-high net worth (UHNW) mortgages without AUM can be a real challenge.


AUM refers to the proportion of a client’s wealth the lender will look to manage, before agreeing to lend to a client—for example, 25% of the loan size may be requested to be placed with the bank. Many private banks require borrowers to invest a certain amount of assets, to be managed by the lender. This is particularly common in Europe.

However, many of those seeking large mortgages already have a firm handle on their own asset management. Whether you manage your own assets, or already have a trusted wealth advisor, it’s understandable that you may not wish to place AUM with a lender.


Historically, placing AUM has enabled borrowers to secure the best possible terms and lowest interest rates. Fortunately for many Enness Private Office clients, private banks are now shifting their attitudes towards providing mortgages without AUM. This is known as ‘dry lending’.

Increasing competition from high street and challenger lenders means private banks are having to take a more flexible approach. Historically, high street banks were unable to offer loans above £1million, meaning private banks had a monopoly on this business. Now the scope of high street banks has changed, so private banks are reconsidering how to attract the best quality UHNW clients.

We have excellent relationships with a number of private banks who are happy to offer large mortgages without AUM, providing we can demonstrate assets in the background, and will be a solid candidate for a mutually beneficial private banking relationship.

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