High Net Worth Individuals
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High Net Worth Individuals by Trinity Finance
As a high net worth individual, your financial circumstances and borrowing requirements are more than likely going to need a bespoke mortgage solution. You may have a complex income stream, such as receiving bonuses, commission or shares, or you may be paid in foreign currencies. You may also have a complicated ownership structure, such as a trust, foundation, special purpose vehicle or limited company. These factors can reduce the availability of large mortgage loans via high street lenders who adhere to standard lending criteria.
Flexibility is also important in your mortgage product. You may wish to have an interest-only mortgage, a high loan-to-value ratio, a short term or want to protect your assets. A specialist lender or private bank can tailor their lending approach to offer a customised solution for you.
At Trinity Finance, we understand the complex nature of high net worth mortgages and provide a tailored service that is both responsive and discreet. Our specialist mortgage brokers are highly experienced in handling large mortgage loans and are used to thinking outside the box when it comes to intricate income structures. They can assess your case quickly and seek the best high-value mortgage product available. With unrestricted access to the market, this can be via a high street lender, a specialist lender or a private bank depending on your situation and requirements.
Are you eligible for a high net worth mortgage?
According to the Financial Conduct Authority (FCA), you meet the requirements for a high net worth mortgage if you earn at least £300,000 per year or have net assets of at least £3 million. As the nature of your earnings and mortgage needs can be complex as a high net worth individual, this eligibility opens the doors to private banks and specialist lenders that offer bespoke services. Regardless of how complicated your situation or finances are, you will be provided with a tailor-made solution to your borrowing needs.
Do you have to be a UK resident?
We can offer mortgage solutions for you no matter what your situation is. Whether you are a foreign national, a non-UK resident, an expat or a UK resident earning in a foreign currency, our specialist mortgage brokers have formed close relationships with niche lenders who can accommodate your circumstances.
Finding the best lender for your high-value mortgage
Numerous high street lenders offer mortgage loans of up to £1 million or more. This can be a good option if you have straightforward income and expenditure and can prove that you can afford a loan of this size. High street lenders can provide competitive rates for high-value mortgages although you may be limited on the amount you can borrow. This is because they tend to offer a lower loan-to-value (LTV) ratio, usually between 60% and 75%. For more flexibility, particularly if you have a complicated income structure, you may need to search for a high net worth mortgage with a niche lender.
Specialist lenders and private banks are much more flexible in their approaches to lending. They can arrange larger loans, provide a more personal service and deal with extremely complex cases. Instead of conforming to standard lending criteria, they take your wider income and assets into account when assessing your affordability. They can offer higher LTVs, even up to 100% in some instances, and can modify the terms to accommodate your needs. The rates for high-value mortgages are determined on an individual basis but you can usually secure a lower interest rate with a private bank if you lodge some of your assets with them.
Some private banks insist on having more commitment from you, preferring to establish a long-term relationship rather than simply granting a one-off mortgage loan. They can ask to hold a certain level of your investments and assets – called assets under management – and these can range from a specified value to a percentage of the loan required. Examples of these are stocks, shares and cash. As the demand for high-value mortgages has increased in recent years, however, so too has the competition from mainstream and specialist lenders. This has resulted in private banks having to be more flexible with their requirements for assets under management.
Whatever your financial circumstances and preferences for a high-value mortgage, our expert mortgage brokers in London, Kent and Edinburgh are available to discuss your situation and ascertain the best lender to approach for your needs. Give us a call on 01322 907 000 for professional guidance on obtaining a large mortgage loan or send an enquiry to us via our contact form and one of our mortgage specialists will reply to you as quickly as possible.
Why procure a high net worth mortgage?
There are many reasons why taking out a mortgage can be beneficial for you as a high net worth individual. You may, for example, have limited capital to buy a property outright despite having substantial assets. Then again, you may have enough cash to make the purchase but prefer to maintain your liquidity in case other investment opportunities arise.
Far from being considered an unnecessary debt, obtaining a large mortgage loan to invest in residential or commercial property is a good method for increasing your wealth, especially when interest rates are low. It is also beneficial for tax planning purposes and a good way to protect your current investments.
Benefit from flexibility with your high-value mortgage
Flexibility can be key when you have a complex income structure. Whereas some individuals may look for lower interest rates or fees, you may place a higher priority on having a flexible repayment option.
An interest-only mortgage that includes the facility to make overpayments without being penalised keeps your monthly repayments lower and lets you pay off some of the loan amount when your cash flow allows. A fixed rate mortgage taken out over a long term can protect you against possible inflation in the future. A short-term mortgage may be better for you if you have investments that you can utilise in the near future to repay the loan. A high loan-to-value ratio prevents you from having to pay such a high deposit, keeping your funds free to use for other investments.
Our specialist mortgage brokers will listen to your needs and find the best solutions to meet them. With extensive knowledge, experience and contacts, they are fully equipped to help you realise your high-value mortgage expectations.
Take advantage of our tailor-made service for your high net worth mortgage
At Trinity Finance, our specialist brokers are highly experienced at handling complex cases for high-value mortgages. Located throughout London, Kent and Edinburgh, they can quickly and accurately assess your financial situation while taking the time to fully understand your mortgage needs. Thinking outside the box if need be, your dedicated mortgage consultant will present a tailor-made case to the appropriate lender and negotiate for the most flexible terms and competitive rates on your behalf.
Whether you’re looking for a residential or commercial high-value mortgage, give us a call on 01322 907 000 to discuss your situation or send an email to us at email@example.com. Our bespoke service is both responsive and discreet, saving you time, money and stress in what may seem a challenging situation. From dealing with complex income streams and ownership structures to sourcing flexible borrowing options that fully meet your needs, you can rest assured our mortgage experts provide a proactive, tailored service resulting in a unique high net worth mortgage solution for you.