The advantages of a private bank mortgage

It might be that you’ve found your dream property, or you could have your eye on the perfect investment opportunity. Alternatively, you may be looking to remortgage an existing asset. Whatever the reason, if you need to borrow a large amount, a private bank mortgage could be the answer.

If you have a pre-existing relationship with a high-street bank, you may feel uncomfortable moving your relationship—and if you have never worked with a private bank before, it can be difficult to know where to start. It’s also difficult to know which is the best private bank, as private banking is less commonly advertised in comparison to high street lenders. However, there are a number of real advantages to beginning a private bank relationship – so if you’re looking for excellent mortgage rates, fantastic service, and a personalised solution, check out our list of reasons why a private bank mortgage might benefit you.

Affordability calculations might be better for you

High street banks take a more transactional approach, in which underwriters have tick-box criteria for judging how much they can lend to a client. This means they may not be willing to take all of your income into account when calculating how much you can borrow, which could leave you short of the loan size you need. A private bank mortgage will be calculated in a more flexible way, so if you have unusual income—for example, if you are self-employed or have income from abroad—a private bank is more likely to take the entirety of your wealth into account, meaning you can borrow more.

Case-by-case consideration

Private bank mortgage lenders will consider you as an individual, taking a variety of considerations into account. For example, we have arranged private bank mortgages for successful entrepreneurs who could show clear projections for their future success. Private banks are generally looking to begin a long term mutually beneficial relationship, meaning they will consider your potential, as well as your past.

Bespoke solutions for individual clients

The level of service you receive at a private bank is a real selling point for many clients. The private banking service you receive will be tailored to your personal requirements, and when it comes to arranging a private bank mortgage, your broker can often negotiate bespoke rates dependent on your situation.

A timely service

If you need to move quickly, a private bank mortgage can often be arranged more quickly—particularly if you have a dedicated broker on side to move the case along. A broker like Enness, will be able to provide a consultation immediately and introduce you to the right lender almost as fast. Using a broker’s whole-of-market access to identify the most sympathetic assessment criteria and contacts to lenders, will result in a swift solution and lucrative deal to go with it.

Securing a private bank mortgage

Securing a mortgage through a private bank will generally require an introduction from a broker who understands your case and can place you with an appropriate lender. If you would like more information about beginning a private banking relationship by taking out a mortgage, I would be delighted to advise you further.