Fast Mortgage Secured Against Large Bonuses at Low Rate

While many high-net-worth clients prefer a private banking service when it comes to property finance - both for the flexibility of terms offered and the exceptional levels of service - high street banks can often be underestimated and overlooked in these scenarios.  

While private banks offer bespoke solutions that are often unavailable to most individuals, high-street lenders tend to offer lower rates if the case can fit within their criteria. So, if your priority is cost over convenience, we will always put this at the forefront of our work.  

The Scenario

Our client was a trading algorithm architect for a commercial bank, and enjoyed the benefits of large performance-based annual bonuses - as is often seen in senior banking positions.  

He needed to borrow £2.4m and was on a tight deadline due to hot competition for the property. 

As well as the sheer size of the deal, a few niggling issues made the cases a little extra complicated:  

• The garage for the property was on a separate title, and on a very short lease – this would be problematic for some lenders
• He’d need his annual bonuses to make up the majority of his borrowing power – not an issue for all lenders, but for a deal of this size could tip the balance of risk versus reward for some 

The Solution

While the client wasn’t against the notion of using a private bank, our broker looked to provide a range of options based on cost, service, speed and flexibility. 

At one high-street lender, our broker had a strong relationship with a high-value case underwriter and knew him to be very diplomatic and efficient from previous cases. And thanks to the value of the deal, our clients’ case could be eligible for a dedicated, fast-track service, similar to that of a private bank. So, we approached the bank for terms. 

The rates and terms offered were undoubtedly the best on the market for the complexity of the case, and our client was more than satisfied with the speed and service from the bank – especially as our team were there to smooth over any cracks and provide that dedicated, on-hand service, from application through to completion.