Support high-net-worth (HNW) customers with specialist mortgages
Our Afin premier range supports customers who qualify as HNW* by taking into consideration irregular income or converting assets into usable income.
Scenario
Consider a customer* with a property investment portfolio valued at £8m, against which there are existing mortgages totalling £3m, leaving a net equity position of £5m.
Although the customer draws only a modest income from their limited company, which in isolation, would not meet traditional affordability requirements, we will be able to take a more flexible approach.
By utilising up to 50% of the customer’s net equity i.e., £2.5m and spreading this across the proposed 10-year loan term, we can attribute an annual usable income of £250k for affordability assessment purposes.
*Customers with £3m+ net assets OR £300k net income per annum are classified as HNW
To know more, or for a full list of usable assets, please send an email to James Briggs or Tippie Malgwi