If you’re looking to borrow more than £500,000, if you hold assets worth more than £1 million or if you earn over £250,000 annually, a private bank could well be the right choice for you.
High net worth individuals can, paradoxically, find it difficult to secure a mortgage; high street lenders are notoriously reluctant to deal with complex clients and will often be unable to help these individuals, even if they can comfortably afford repayments. Because of recent regulatory changes high street banks have become even more restrictive, and it’s now harder than ever for borrowers with non-standard income streams to acquire a mortgage.
Private banks, on the other hand, are free to choose their own lending criteria. This gives them the ability to judge each borrower on their own merits and create a bespoke lending package specifically for them, rather than forcing all their clients to meet the same set of requirements. For those individuals with non-standard income streams such as dividends, wealth from existing assets or self-employment, private banks provide the solution which mainstream lenders can’t.
When buying the perfect home you need a lender you can rely on - you need a bank that works with you to make the purchase as smooth as possible, not one which forces you to work to their schedule. For high net worth buyers a private bank provides access to secure, reliable finances without the restrictive checklist mentality of mainstream lenders.
Private banks are expert, highly experienced lenders and are able to accommodate a wide array of borrowing strategies, including additional alternative securitisation of assets. This can be invaluable for buyers with a valuable existing portfolio, as few mainstream lenders will be able to accurately assess their true worth.
Buy to let property makes up a key element of many an investment portfolio, but the tight affordability restrictions of mainstream lenders make it hard for investors without a standard income to source a mortgage. As independent lenders, private banks take a more holistic approach to their lending and consider all aspects of a client’s situation. This allows them to assess affordability accurately whilst still accommodating a wide range of income streams.
A secure financial base is the foundation of a healthy business, and private banks are able to provide the flexible financial backing which successful commerce demands. Mainstream lenders often place demanding restrictions on their clients, and when circumstances change these lenders can sometimes withdraw their support; private banks, however, are far more flexible, and can adjust their lending to suit a borrower’s needs.
Because private banks provide businesses with an adaptable and resilient funding source they are often a top choice; their flexibility combined with a willingness to consider a wide range of proposals makes them highly attractive as a source of finance.
Private banks are highly experienced financial experts and take pride in their ability to provide the right solution in any situation. These banks can bridge swiftly across international jurisdictions, provide loan packages for equity partnerships and use alternative securities to help realise a finance solution. Specialised mortgages require the expert touch of a dedicated lender, and private banks can create a financial strategy that fully resolves your mortgage needs.