Should you use a private bank if you want a mortgage?

Is a private bank mortgage suitable for you?

High-street lenders and private banks have been competing to attract clients for years, and many of them offer similar mortgage services. If you can obtain a mortgage through a high-street lender, it will probably be cheaper than through a private bank.

Finding a mortgage through mainstream banks and lenders as a high-net-worth individual can be somewhat challenging and time-consuming, with many “standard” mortgage products not being flexible or accessible enough to business owners and entrepreneurs. 

Trinity Financial, a premium financial services broker, consistently help find bespoke mortgage products for high-net-worth individuals that meet their personal and financial needs. Our brokers will confirm whether you require a private bank or if a high-street lender can assist you.

We specialise in arranging mortgages for high-net-worth individuals who do not fit the generic criteria of mainstream lenders. We have an extensive network of banks, private banks and specialist financial institutions that can assess every case on its own merits to deliver a tailored solution.

Specialist large mortgage loan teams at high street lenders

To compete with private banks, high-street lenders have established specialist large loan teams, enabling them to issue larger mortgage loans. Some high-street lenders will also provide mortgages of £5 million or £10 million for properties in prime postcodes. Nationwide for Intermediaries is currently offering a fixed rate priced at 4.2% for mortgages up to £5 million.

Trinity Financial offers wealthier clients a specialist private bank mortgage broker service:

• Bespoke lending solutions for mortgages over £1,000,000.
• Large mortgage loans with a 10% deposit.
• A tailored approach to income and overall wealth.
• Interest-only private bank mortgages and high-net-worth exemptions allow for higher-income multiples.
• Private bank mortgages for residential and buy-to-let properties.
• Short-term finance options, including bridging loans and mortgages without early repayment charges.
• Offset mortgages are suitable for bankers, partners, and hedge fund managers who receive regular bonuses.
• Foreign currency mortgage, multiple income sources, family trust income, and using retained profits.
• Solutions for UHNW individuals.
• Large mortgage loans without assets under management.
• Private bank options for older borrowers with no age limit.
• Offshore mortgages for UK expats, non-domiciled UK residents.
• Country house/estate and land owner mortgages.

Our pick of the Best Private Banks providing mortgages:

How do private banks work when assessing a mortgage?

Most private banks do not publish their acceptance criteria on their websites; they work on a case-by-case basis. Trinity Financial has access to numerous private bank business development managers and private bankers, who agree to cases quickly and efficiently. 

Will private banks require assets under management to offer a mortgage?

Private banks often prefer clients to provide assets, such as cash, stocks, or share portfolios, for them to manage as part of the transaction. However, times have changed, and many private banks will 'dry lend' and not ask for funds as part of the deal. 

There are many advantages to holistic management of your financial affairs, and some of our clients can make substantial savings on multiple consultancy fees. However, the decision is entirely yours, so we can help you consider the options and advise you on the right private bank to suit your current situation.

How can Trinity Financial help you get a mortgage?

Once we have had a face-to-face or telephone consultation to understand what you are looking for, we will approach the most suitable lender offering the best possible terms. We will then report back and confirm the most competitively priced rates and terms.

Call Trinity Financial on 020 7016 0790 to secure a high street bank or private bank mortgage or book a mortgage consultation  

The information contained within this article was correct at the time of publication but is subject to change.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage