When it comes to dealing with high street lenders, high net worth mortgages are typically more difficult to obtain. At Davidson Deem, our mortgage brokers strive to support all types of professionals. Because of this, we will find the right mortgages for high net worth individuals.
Typically, high net worth clients require a large mortgage, often with unusual criteria. To be underwritten as a high net worth client, the mortgage amount that you are applying for usually needs to exceed £1,000,000.
Especially since the global financial crisis in 2008, it has become more difficult for anyone to obtain a mortgage, especially high net worth individuals.
Mortgage regulations have tightened which has led to stricter requirements when it comes to being approved for a mortgage. High street lenders use a standard formula when considering applications. Because of this, lenders will be less likely to accept mortgages for high net worth individuals as the complete financial profile of the applicant is rarely taken into account.
High street lenders typically focus on steady incomes when it comes to mortgage applications, as this guarantees the individual can meet repayments. Based on this, high net worth mortgages are more difficult to obtain, as people in this sector tend to receive their wealth from less regular sources.
We offer a range of benefits when it comes to our specialist mortgage brokers. These include:
To get in touch with a mortgage broker that you can trust, contact Davidson Deem on 01202 884111 today.
Get in touch with us to find out more