Private bank dry lend mortgages
Trinity Financial's brokers use private banks to arrange bespoke mortgages for wealthier clients, often looking for multi-million-pound mortgages.
More private banks are offering ‘dry lending’ where assets do not need to be transferred to banks in order to secure a mortgage.
To qualify for a private bank mortgage, clients are often expected to provide up to 50% of the loan amount in assets for them to manage.
Aaron Strutt, product manager at Trinity Financial, says: “In many cases, our clients are happy to transfer assets to the bank, especially if they want a better return on their investments.
“Although for those who are happy with their current asset management, there is often an opportunity to borrow through a high street bank.
“We have access to one high-street lender providing fixed and tracker rate mortgages between £500,000 and £3m at incredibly low rates. They also have £1,999 arrangement fees.”
During the financial downturn private banks were often the only lenders regularly offering £1m plus mortgages. But now that there is more competition across the market it is not always necessary to speak a private bank to secure a large mortgage loan.
Trinity use private banks when clients have complex income structures or they receive money through a trust or investment portfolio.
If you would like help to secure a dry lend mortgage call Trinity Financial on 020 7016 0790 or book a consultation
The information contained within was correct at the time of publication but is subject to change.
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