MORTGAGES

High Net Worth

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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

barbara kisolo
barbara kisolo
02/10/2023
I was introduced to Mortgage Matchmakers Limited by a friend who had used them before. From the moment we contacted Paul, he walked the journey with us until exchange of contracts. Paul was reachable 7 days a week and would answer his calls even outside the normal working hours. He was constantly updating and advising us on each step of the way including engaging the solicitor severally when things stalled. He provided useful advice whenever we felt like giving up. The fee was far less than what these guys offer and Paul was so patient with us. We are glad we chose Mortgage Matchmakers. Thank you so much Paul. We can't thank you enough.
Suman Pandey
Suman Pandey
19/09/2023
I cannot express enough how grateful my family and I are for the exceptional service provided by Bhavna Grover during our mortgage approval process. In just two short days, Bhavna worked tirelessly to help us secure our mortgage, and her dedication and expertise were truly outstanding. What truly sets Bhavna apart is her unwavering support and her wealth of knowledge in the field. She patiently and thoroughly explained every aspect of the mortgage application process, providing us with invaluable advice that allowed us to make informed decisions. Bhavna's friendly and easy-going demeanor made the entire process feel seamless, and we genuinely enjoyed working with her. Throughout our interactions, Bhavna demonstrated a high level of professionalism and competence. But beyond her professionalism, Bhavna's personal touch was what made our experience truly exceptional. She made us feel comfortable, and her ability to explain complex concepts in a language we could easily understand was greatly appreciated. She was not just a mortgage expert but also a trusted advisor and friend. Thank you, Bhavna Grover, for going above and beyond to help us achieve our mortgage goals.
Chetna
Chetna
06/09/2023
Fantastic service! Mohit and Bhavna were super efficient & quick - more importantly, they were able to get me a great mortgage rate. I loved that they were so responsive and I was able to call/message anytime and they would respond almost immediately. I'm so happy with their service and would highly recommend them!
Tim Bashforth
Tim Bashforth
17/08/2023
If I may start by saying I never leave reviews but in this instance I felt compelled to. As this was my first time getting a mortgage it felt quite daunting but from the first time speaking to Mohit he put my mind at rest and talked me through the process. When I had concerns or questions he was just a phone call away to give an answer and was always happy to help even after three calls in a row when I had forgotten some of my questions. He made the process of getting my mortgage a stress free experience and I would strongly recommend Mortgage Matchmakers to everyone. To be honest five stars just isn't enough! my experience couldn't have been any better, if you are looking for a mortgage adviser look no further and give them a call, you won't be disappointed.
Ayan Sengupta
Ayan Sengupta
10/08/2023
Very informative discussion with Mortgage Matchmakers. Mohit is really helpful and willing to go the extra mile in assisting clients depending on their circumstances.
Diana Terence
Diana Terence
24/07/2023
Mohit thank you for sorting our buy to let mortgage. You've been excellent in giving us good options and advise on terms. Thanks again
Kam Zaman
Kam Zaman
09/07/2023
Paul Asare was fantastic he kept me updated all the time and explained things clearly. I’d recommend this company a lot they were great and gave me the best deal.
Emi
Emi
08/07/2023
I remember 2 years ago I was in a difficult situation in my life and I was looking for a good mortgage advisor. I searched online and Mohit's name came up. I read all his reviews and decided to give him a chance. So we met and OMG, Mohit is such a warm person with such a positive attitude, he told me all the possible options that I had and advised me the best choices for me. But unfortunately things went wrong in my personal life, so I didn't contact Mohit for another 2 years . After 2 years I was afraid to call him again and ask for help with my mortgage (because of last time) but Mohit helped me out again and he was so polite and professional. He tried his best, he was always in contact with me and I had my mortgage offer within a week !!!!!!! Honestly I am so happy I returned to Mohit, he helped me with everything, advice on things and I finally got my mortgage with my name only and it only took him a week! I really couldn't believe things happened so quick 😊 Mohit did something which other brokers couldn't ! I've been told I can't get a mortgage on my own but here I am and I got one with Mohit's help 😊 I will always recommend Mohit to my friends if they need help with their mortgages. Thank you Mohit for everything 🙏
Anthya Fernandes
Anthya Fernandes
12/06/2023
Mohit and Bhavna has been a huge help in my buying process. As a first time buyer and with rates changing all the time due to the economic uncertainty, I've been more than a little out of my depth, and Mohit and Bhavna has done a fantastic job of making the entire process simple to understand, straightforward, and stress-free. For the peace of mind that has given me alone, I could not recommend them highly enough.
Jaideep Pathak
Jaideep Pathak
11/06/2023
Mohit has been extremely professional, responsive and quick in helping me find a great offer. The entire process was seamless and I was surprised how quickly I managed to get an offer. Mohit cares for his clients and patiently addresses all questions. I would highly recommend his services.