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Mortgage Advisor & Director
What is a High Net Worth Individual?
In the UK, a High Net Worth Individual (HNWI) someone who:
- Has an annual income of more than £100,000.
- Holds £250,000 in net assets over and above their primary residence.
Why can High Net Worth Individuals have problems getting a mortgage?getting a mortgage?
For some lenders, High Net Worth Individuals (HNWIs) can present a risk, particularly for those who are not necessarily experienced in dealing with their specific requirements.
Since the global economic crisis, lenders have readjusted their risk appetite, and no particular group of borrowers are immune. For those with standard finances, the process is relatively simple, but for HNWIs who finances are generally different to the majority of potential borrowers, this may pose an issue.
HNWIs are more likely to have assets that are less simple to liquidate and an irregular income from various sources. This lack of conformity can present a higher risk to a standard lender, so HNWIs are generally better off seeking specialist mortgage provider.
If you are an HNWI:
- Recognise you are an irregular borrower, this can help manage the frustration of not ticking the boxes needed for a mortgage with a high-street lender.
- Use a specialist mortgage provider - our advisors can help, get in touch today to start the process.
Find out more
As an independent whole-of-market mortgage service, our advisors have access to the specialist lenders for High Net Worth Individuals.
Use our quick and easy online form to start the process today.
Choosing an Adviser
Selecting a qualified and experienced mortgage adviser is of great importance. To choose a suitable adviser, evaluate their qualifications, experience, and reputation, and ensure they are regulated by the Financial Conduct Authority (FCA).
Read reviews from previous clients and make sure they provide a clear explanation of the products and services they offer, as well as the fees and charges associated with them.
