Coutts tighten criteria for new customers
Coutts, the private banking arm of Royal Bank of Scotland, has tightened up the minimum amount of investable income required for new clients as part of its plan to push in to investment management services in the UK.
The bank now requires £1 million in liquid assets to be invested with them before they offer clients a mortgage.
Aaron Strutt, a broker at Trinity Financial, says: "Over the last year we have really started to see other banks coming into the market targeting wealthy borrowers.
"There are a number of private banks that will even consider lending 100% loan to value on properties, providing they can see how the loan is going to be repaid. For the right type of client there are some very interesting options that are not available on the high street."
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