There is great news for borrowers as mortgage rates fall to new lows. With two-year fixes pegged at less than 2 per cent and five-year fixes at less than 3 per cent for those with good-sized deposits, borrowers have never had it so good.
The private banks also continue to offer competitive pricing and more flexible criteria for wealthy borrowers with more complex income streams, such as retained profits in a business and share dividends, or who require interest-only mortgages or large loans.
Of course, it is important to look at the bigger picture and look at fees as well as the rate in order to compare like with like. But you shouldn’t necessarily let hefty fees put you off: those with larger mortgages may find that it is worth paying the bigger fee in order to access a cheaper rate.
Private bank mortgages
Anderson Harris can advise on the right deal for your circumstances. We have access to many private banks and specialist lenders as well as the mainstream high-street lenders. If you are asset rich but have limited income and are purchasing or remortgaging a high-value property, and require discreet advice, we can help.