What is a large loan?
A large loan or mortgage is generally categorized as one being over £1million in value. Each client requiring a large loan is unique and, as such, bespoke measures are often required in order to secure one – something Enness is a market leader in doing. With a wealth of experience and an unusually large network of lenders, we are able to acquire large loans in even the most challenging of circumstances.
Ways to get a large loan…
- Use a private bank
Private banks are not available to many people, and unlike most high street banks, the majority of people have not heard of many private banking establishments.
Smaller client bases and a degree of anonymity mean private banks have a lot more flexibility with regards to their loan acceptance criteria. Private banks are more willing to accept clients with complex income structures, adverse credit and indeed pay out the larger sums simply not available on the high street.
The exclusivity of private banks owes much to the fact many are ‘invite only’, and finding a way to be invited is tough without the right guidance. Fortunately, Enness has built up a large network of, and fruitful relationships with, private banks over the years.
- Use Luxury assets as security
When looking to raise a large amount of capital without using traditional securities – i.e. a residential property – some lenders will take luxury and expensive assets as security.
All manner of high value luxury assets can be considered; from jewellery and luxurious watches, luxury handbags to diamonds, classic cars to fine wine collections and, ultimately, gold.
Getting creative with what you use as security for your large loan can be a way to increase your level of financing, and is something our team of expert brokers will be more than willing to discuss with you.
- Assets under management (AUM)
AUM is the process by which a lender takes control of assets in return for a loan, usually within private banks. The lender keeps these assets under their control and has a fair degree of flexibility in how they are dealt with.
Lenders like to use AUM because it gives them a guaranteed security, meaning that they are often more comfortable lending higher amounts to clients, particularly if a long-term relationship can be forged between the bank and borrower.
We understand each case is unique, requiring a bespoke approach to acquiring a large loan. If you have any questions regarding your large loan requirements, then please do not hesitate in getting in touch with one of our expert brokers, who would be delighted to assist you.