Private Bank Mortgages are an essential service in the high net worth mortgage market.
Private Banks offer a tailored mortgage service based on the wealth, standing or potential of the client. Lending terms can be individually created based on the needs of the customer, their plans and aspirations as well as non-tangible aspects of the application such as family wealth.
HOW MANY PRIVATE BANKS DO ENNESS WORK WITH?
We work with every UK private bank who lends against UK property and we are one of the few brokers who is welcomed to introduce clients to the most exclusive or private of lenders.
Our network of clients, our position in the market and our reputation allows us to reach the inner chambers the leading Private Banks which allows of the best possible treatment of application, preferential decisions and even the bypassing of expected eligibility criteria to become a customer of the bank.
More importantly, we know which private banks are lending, when and how they lend, what the application process looks like and what steps need to be taken to complete a mortgage. This experience is vital in not only ensuring the best terms but also the most efficient service and execution.
DO ENNESS WORK WITH INTERNATIONAL PRIVATE BANKS?
Yes. We offer mortgages in the UK from private banks from across the world, in particular Switzerland, Luxembourg, Liechtenstein, Monaco and other global locations.
These lenders often have more unusual criteria and processes but can solve the mortgage requirements of international, highly specialised or complex individuals.
One of our main strengths is our wide-reaching network of lending solutions, of which this is a key example.
DO PRIVATE BANKS ALWAYS REQUIRE ASSETS UNDER MANAGEMENT?
Most private banks will require a reason to open an account for an individual and few will open accounts on a lending only basis.
Some will require assets under management (AUM). This could be cash, liquid assets or anything else and the amount varies from lender to lender, year to year and client to client. This part is often negotiable.
WILL I BE REQUIRED TO SHOW A PARTICULAR INCOME OR ASSET LEVEL TO ACCESS A PRIVATE BANK MORTGAGE?
No, and this is the great bit. Private banks assess every application individually. It is our job to take you to the one which will offer you a mortgage on the correct terms based on what you need.
We can arrange private bank mortgages without assets under management, without any income or in all other circumstances.
The key thing is that the lender in question sees you as a potentially valuable client.
WHAT ARE TYPICAL PRIVATE BANK MORTGAGE RATES?
Private bank mortgages often start at £1million and rates are either the cheapest in the market (sub 2%) and even cheaper if you can place assets under business or do other meaningful business with the bank.
In the other extreme, the lender may be higher up the interest rate scale, but this will be attractive because they will lend in a way you need or based on your more complex requirements or position.
Either way, private bank mortgages and private bank lending rates are always negotiable
WILL I QUALIFY FOR A PRIVATE BANK MORTGAGE?
Private bank mortgages are typically available to those who earn in excess of £250,000 or have assets worth more than £1million. However, just like high street banks, private banks differ in their requirements. A one-on-one consultation is always advised to ensure you are receiving the best advice about private bank mortgages in regard to your unique situation.
HOW CAN I SECURE A PRIVATE BANK MORTGAGE?
The best approach is to allow us to help you. We know which banks will lend to you, who at the bank should be approached and in what form the application should take.
We know which lenders will offer you the mortgage you need (or indeed which ones might and what we have to do to convince them to!)
We will give you options on our very first call.