Are you looking for a new private bank mortgage over £1million? There are many advantages to having a private bank relationship, so this is something many Enness clients are interested in. Our product of the week could be the solution you’re looking for, especially if you need a mortgage over £1million but don’t want to place assets under management (AUM).
This product is 2-year variable rate offered by a private bank we have an excellent relationship with. The rate itself is 1.49% + 3 month LIBOR, which is an excellent offering. Variable rates are ideal if you value freedom and flexibility, which is a key priority for many high net worth (HNW) individuals.
This product is also available without placing AUM. AUM is a common requirement found by those trying to take out a private bank mortgage, as these lenders typically want to begin a relationship in which they can manage your wealth. However, this is something that clients are often reluctant to agree to as they are often happy managing their assets independently.
This private bank mortgage is therefore a great option for clients who have a good income and asset base, but do not want to place funds with the lender as a condition of borrowing. The maximum loan to value (LTV) for this product is 65%.
- £1million+ mortgages
- 2-year variable rate
- 1.49% + LIBOR
- No AUM required
We have a close working relationship with this lender, which makes the application and underwriting process much easier. A private bank mortgage with no AUM requirements can be difficult to find independently, so if this sounds like something you’d be interested, I would be happy to talk you through your options.
Whatever your private bank mortgage requirements are, Enness has the experience and the network to find a solution. If you’d like to know more, our team are happy to advise.