Traditional mortgage lenders are restricted in their lending criteria due to tight regulation put in place to ensure potential borrowers can repay their mortgage. This criteria is often more strict and offers a less flexible approach when it comes to lending which can limit the options for an individual with more sophisticated income. In comparison, private banks use the high net worth exemption which encourages them to be more flexible in their approach to reviewing mortgage applications for those who have a high net worth. As a result, private finance tends to be more flexible when it comes to complex income streams that come from trusts, stocks, bonuses or shares. These lenders tend to also be more understanding and knowledgeable about these income sources which can help expedite the mortgage process. It is worth noting that private finance mortgages often have higher interest rates and fees compared to traditional mortgages. Also depending on your individual circumstances, you may also need to contribute a larger deposit than you would with a traditional mortgage. Our friendly team can advise you further on this when you speak to us.

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