| Property | Four-bedroom lateral apartment |
|---|---|
| Location | Mayfair, London |
| Client | Entrepreneur, recently sold his business |
| Product | Private bank mortgages |
The challenge
The client's income now came from investment returns and occasional consultancy after selling his company. Mainstream lenders could not fit this into standard affordability models, despite substantial liquid wealth.
What we did
We introduced the client to private banks that lend on a holistic view of assets, income and future plans. One bank offered a tailored interest-only facility on the condition that part of his portfolio was placed under its management. We set out the commitment involved, including what happens if the managed assets fall in value or are withdrawn. We negotiated the level of assets required and the facility terms before he committed.
The outcome
The purchase completed at 63% loan to value on an interest-only basis, with a repayment strategy based on his investments.
Private bank mortgagesBespoke, wealth-based mortgages from private banks for high-net-worth borrowers with complex finances.
Learn moreImportant: Your home may be repossessed if you do not keep up repayments on your mortgage. There may be a fee for mortgage advice: up to 1% of the loan, typically £500.