Butterfield launches new UK mortgage proposition
Butterfield Bank has launched a mortgage proposition to continue lending in the UK, despite the winding down of its deposit-taking and investment management businesses.
The Bermuda-based Butterfield Group closed its UK private banking operation earlier this year, but still operates in the Bahamas, Bermuda, Cayman Islands, Guernsey and Switzerland.
Aaron Strutt, product director at Trinity Financial, says: “Butterfield Bank is offering straightforward mortgages without the need for assets under management. It is using an affordability model focusing on high-net-worth clients often paid in a foreign currency.
“The bank offers bespoke residential mortgages up to 75% loan-to-value and buy-to-let rates. It also has competitive bridging loan terms linked to the Bank of England base rate with 12 and 18-month facilities.”
For help to secure a private bank mortgage, call Trinity on 020 7016 0790.
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