MORTGAGES
High Net Worth
- You'll experience an unrivalled customer service
- We offer a comprehensive range of products from across the market but not deals that you can only obtain by going direct to a lender.
- You can contact us 24/7, we're always available to help
Your home may be repossessed if you do not keep up repayments on your mortgage.
Are there mortgages specifically for High Net Worth individuals?
There’s mortgages out there for all individuals, as long as they’re credit worthy and satisfy lender criterias. When you look at mortgages for High Net Worth clients specifically, there can be quite complex situations, so many clients need bespoke mortgage arrangements to suit them. This can sometimes be because of the complexity of their financial situations, which means there’s often a greater need for flexibility to access finance.
Why are mortgages for High Net Worth individuals so difficult?
Possibly because with High Net Worth clients, there are certain factors that determine how much they can borrow. High value lenders look at the client’s profile and other factors to determine how much they’ll be able to borrow and how they’ll structure the finance. It can be slightly different to just the standard calculation of using a multiple of their income. With high Loan to Value lending and High Net Worth clients, mortgages are quite often in excess of a million pounds, so lenders will need to know whether borrowers have got repayment plans in place to lower the loan value.
Does net worth affect a mortgage?
High Net Worth individuals’ incomes can be a little bit more irregular, as their wealth may be coming from a number of different sources. For a Standard Residential Mortgage application, applicants are generally either employed or Self-Employed, so their income is easily proved with payslips and bank statements, or a tax return. High Net Worth individuals often have wealth from investments, inheritances and trusts across numerous territories, which is definitely more complex.
Who qualifies as High Net Worth?
Anyone with an annual net income of no less than £300,000 or with assets of no less than £3 million. If somebody has obligations that are guaranteed by a person with income of that level of assets, they would be classed as High Net Worth, too.
What can I borrow as a High Net Worth individual?
It’s not always as straightforward as general high street borrowing, but High Net Worth. Borrowers can, in some cases, use an Asset Ready Mortgage or Asset Qualifying Mortgage, which allows borrowers even with a low income. Because sometimes people with significant wealth don’t have an income.
For clients with over £3 million in assets, therefore, an Asset Ready Mortgage is an option. What they can borrow really does vary. High street lenders may offer multiples of four or five times an applicant’s income, whereas with High Net Worth it’s very much down to the individual.
Do High Net Worth individuals need Life Insurance?
Any client, whether they’re High Net Worth or not, should certainly have conversations around their protection needs. Just because someone’s got a lot more money or more assets, it doesn’t necessarily mean they don’t need life insurance from a mortgage point of view.
Life insurance is as important for High Net Worth as it is for those who are not High Net Worth, but High Net Worth clients might have assets that mean that they don’t feel the need for life insurance.
Your home/property may be repossessed if you do not keep up repayments on your mortgage.
Some Buy-To-Let Mortgages are not regulated by the Financial Conduct Authority.
Can High Net Worth Insurance cover my listed property?
There are numerous insurers that could insure listed buildings. There are different grades of listed property that can be insured with listed buildings insurance. Grade one, which makes up two and a half percent of the UK listed buildings. Grade two listed can be made up of special interest properties, but they make up the majority of the listed buildings in the UK. Grade two plus, makes about 5% of the listed buildings in the UK.
There are a lot of companies that will offer insurance against listed buildings, so you won’t necessarily have to go for High Net Worth Insurance cover to do that.
How can Mortgage Matchmakers help?
High Net Worth mortgages are a little bit more bespoke, so if you walked into your local bank, you might struggle to obtain one, as a High Net Worth client. If you’ve got someone who looks after your finances, they might be able to point you in the right direction with regards to a bespoke lender. At Mortgage Matchmakers, however, we’ll certainly find a home for the client and would love to have that conversation.
Your home/property may be repossessed if you do not keep up repayments on your mortgage.
Some Buy-To-Let Mortgages are not regulated by the Financial Conduct Authority.
Happy Clients
Sharmila Rumpa2024-05-28Excellent and professional service, wanted to call out Bhavna Gover especially, she helped me to sort out a Ltd Company buy to let mortgage. She's very thorough in her work. Please ask for Bhavna if you need a mortgage in future, she will be happy to help for sure.
Kash Anis2024-05-23We approached Mortgage matchmakers regarding to get an options as we alreday tried few brokers before.Mohit introduced Bhavna which helped us out through out our journey.We felt it was difficult as our situation was bit tricky, but Bhavna worked out the best resoultion and sort this out. We have no words to say thank you, as it was amazing support from Bhavna and got the mortgage offer. Bhavna was fantastic,friendly and very passionate person, she is very professional Mortgage Advisor. Once again I would like to say Thanks so much for helping through out my journey to get mortgage for my new house.
Larushhh O2024-05-18It was a pleasure working with Paul over the last few months with my remortgage. He took away the stress of remortgaging with his professionalism and patience till the deal was finalised. I highly recommend him as a broker. Thanks for your support and help once again.
Aromes Bienmaison2024-05-15Paul was very helpful and provided a great guidance throughout the whole process
Shalaka2024-05-14We couldn't have asked for a better mortgage advisor! Mohit has been an absolute asset, always there when we had a question, and believe me, we had plenty! Being first-time buyers, his guidance was invaluable. What we appreciated most was his honesty and the fact that he never made us feel rushed into any decision. We're still in the process, but we already feel confident with his support. Totally recommend him to anyone in need of mortgage advice!
Dinesh Johnson2024-05-13Mohit was simply brilliant and helped us to understand all the options available in the market and choosing the best and importantly the right product for our need. Mohit is very efficient, he goes out of his way to help his clients and keep his client’s interest at top of his priorities. He was very professional and knowledgeable, would certainly don’t think twice to get his service in the future. I would highly recommend him to anyone who needs advice and support in sorting their mortgages. Thank you soo much Mohit for your hard work and support in sorting our both residential and BTL mortgages! Tharaka & Dinesh
Bagya P2024-04-30If anyone looking for hassle-free mortgage process, then I would suggest to discuss with Mohit. Mohit explained the process more in detail, assessed the situation very well and gave perfect suggestions to get the process done. Also, he closely connected with Solicitor and made the whole process easy. Additionally, I would like to thank Bhavana for her exceptional work. She tried many options to get the better deal from different Vendors. She explained all my queries on time and appreciate her professionalism. Thanks a lot once again Mohit and Bhavana for all your support.
Oliver Harris2024-04-24Mohit was a great help with finding my first mortgage. He talked through all options clearly and found the best deal to suit my needs. I'd thoroughly recommend using his services.
Veronica Ihonor2024-03-03The team was very professional with spontaneous delivery in line with agreement. Well done guys
Ogechi Eke2024-01-14If you’re looking for a professional mortgage broker who actually goes above and beyond his role then look no further. Ankur Daru is your main man. He is extremely helpful and knowledgeable. Even when the interest rate dropped for my lender, without prompting, he sent me an updated deed. There are so much more I could write but I’ll sum him up in a few words: Professional, knowledgeable and helpful. Thank you for securing the deal for me Ankur! I look forward to the next one! Ogechi