Private banks mortgages are no longer just for the ultra-rich; they offer competitive mortgage products for a variety of high net worth borrowers and are much more willing to consider your individual financial situation and offer a bespoke, tailored product.
Whether you’re in need of a large mortgage, lending on an interest only basis, or have multiple income streams for consideration, private bank mortgages can be extremely valuable. After all, it makes little sense for affluent individuals to tie up vast sums of personal wealth in property, when you could be benefiting from it more elsewhere.
WHAT DO I NEED TO KNOW ABOUT PRIVATE BANK MORTGAGES?
If you currently earn more than £250,000, have assets worth more than £1million, or are looking to borrow more than £500,000, then a private bank is certainly a viable option for your financial needs.
Private banks will consider circumstances that are much less likely to tick the boxes of high street lenders, who often shy away from complex cases even if the borrower can comfortably afford monthly repayments. For anyone with non-standard incomes such as bonus payments, profit-sharing agreements, or income and dividends from self-employment, private bank mortgages are a useful option.
So as the high street market’s criteria has become increasingly rigid, a mortgage with a private bank is often the best solution for any borrowers with a more complex financial situation or income stream.
HOW CAN ENNESS HELP WITH PRIVATE BANK MORTGAGES?
At Enness, we have carefully nurtured links with private banks across the market, which means we can successfully place private bank mortgage applications for high net worth clients, regardless of how complex the circumstances.
Having built relationships with these niche lenders, we can ensure the best deal possible is sourced for our clients. In many cases, our clients are not required to place other assets or investments with the bank in order to be eligible for a mortgage.
If you have complex financial requirements or are looking for advice within this space, contact Enness today to find out how we can help you.