It is a fallacy that wealthy buyers do not require mortgage finance. Some borrowers need to raise finance because they are not in a position to purchase solely with cash, while others choose to borrow against their property to assist with financial planning and to mitigate currency/tax risk.
As a general rule, the high-street banks have little appetite to lend more than £1m. Yet the private banks and specialist lenders are well-capitalised and actively seeking opportunities to lend to new clients. Private banks don’t have a high-street presence so it is virtually impossible to access this finance without using a specialist broker, such as Anderson Harris.
A bank that is suitable for one client may not be ideal for another. We keep on top of each lender’s requirements, enabling us to match the client to the most suitable lender. We can access the right point of entry, something notoriously difficult without our level of market knowledge. This means we have access to some of the most competitive rates and funding structures in the market.
The private banks offer extremely competitive deals, while they are also more likely to consider clients with complex income streams including bonuses, performance-related pay, retained profits in a business, and offshore income. The private banks are also more flexible in their attitude towards interest-only borrowing than most high-street lenders. If you are purchasing a short-lease property, we also know which lenders are most likely to consider such a proposition.
Although overseas clients tend to be tax-domiciled outside the UK and have other offshore assets and tax structures, which make for a more complicated scenario, Anderson Harris is well placed to advise such clients when purchasing in the UK.
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The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
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