The Best ‘Secret’ Mortgages

The best ‘secret’ mortgages

Islay Robinson

Enness works with hundreds of lenders, but many of these firms are relatively unheard of or difficult to access. These ‘secret’ banks, specialist funds and lenders fly under the radar of most, but they facilitate a substantial part of the high net worth mortgage market.

For instance, boutique private banks work with a very select clientele and won’t accept borrowers without a recommendation or introduction. However, these lenders are a hidden gem that works intimately, quickly and will consider a wide range of exceptional circumstances.

The truly private banks are looking for long-term relationships with clients but will provide borrowers with exceptional service and competitive rates. There are also big international lenders that specialise in offering very large loans and are especially good at lending to foreign nationals.

At the other end of the scale, local building societies have created niches within the market and will offer lending in cases which are quirky or sit outside standard criteria. Meanwhile, bridging and specialist lenders provide solutions to financing problems in almost any guise.

Enness negotiates individual terms and conditions with all of these lenders. In a fragmented market, we know exactly which firms to approach based on the circumstances of each client. We understand the nuances of each lender and each type of mortgage, we navigate the market for our clients to pick out the very best terms and conditions.

Here are examples of the deals we are able to source for our clients through these channels.

International lender

Mortgage type: UK unregulated mortgage for overseas residents
LTV: 100%
Rate: 1.09% over bank base rate
Assets Under Management (AUM): 40% (Min £5m if the property is used by the borrower)
Term: 5 years
Lender fee: 0.25% arrangement charge

Private bank

Mortgage type: Residential interest-only
LTV: 75%
Rate: 1.5% over bank base rate
Term: 5 years
Special conditions: Dry mortgage without AUM but needs to be a wider relationship in the future

Building society

Mortgage type: Residential interest only
LTV: 75%
Rate: 2.49% discounted variable
Term: 5 years
Special conditions: 1% fee and restricted to UK-only

Specialist lender

Mortgage type: Bridging loan, rolled up interest
LTV: 65%
Rate: 2.99% annual
Term: Up to 1 year
Special conditions: 1.00% fee