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Private mortgages

Written By:
Myles Robinson - Expert Finance Advisor

Posted: Feb 6, 2023

Private mortgage lenders in the UK for discreet large mortgages

A private mortgage is a custom-made mortgage agreement that is usually available to borrowers who meet the high net worth exemption.

A private mortgage lender is often more flexible than traditional mortgage lenders and doesn’t have to adhere to the same lending regulations.

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This guide will help you understand how private mortgages work and how you can get a private mortgage from a private mortgage lender.

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What is private mortgage lending? How does a private mortgage work?

Private mortgage lending is a unique form of borrowing usually reserved for customers eligible for the high net worth exemption. This means that they must have an annual income of £300,000. They also need to have assets of at least £3 million.

A private lender doesn’t have the same restrictions as mainstream lenders, so this type of lending is more flexible than traditional mortgage agreements. Private mortgage brokers can provide customised mortgages that are tailored to each customer’s needs. This often allows customers to access deals that aren’t available elsewhere.

Private lending is often offered by a few mortgage providers lending through mortgage brokers. This means you may not be able to get their services without specialist private mortgage lenders.

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A private mortgage is a good choice.

Private mortgage lending is a personal service that mortgage lenders offer with the added benefit of greater confidentiality and discretion. The private mortgage option is popular with high-net-worth individuals. However, there are other reasons why people choose a private mortgage.

  • To borrow based upon much higher income multiples, seven-times income up
  • To obtain a greater mortgage than what they could get on the high street
  • For assets such as stocks and shares portfolios, a mortgage can be secured
  • To negotiate rates, terms and conditions starting from scratch

It may be possible to use a traditional mortgage lender to replace a private mortgage provider, depending on how much personal finance you need. While this might result in lower fees and easier access to your lender’s services, it could also be a disadvantage as it may prevent you from getting a private deal that is much better.

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How to obtain a private mortgage

There are quick and easy ways to find a private mortgage lender if you meet the criteria for high net worth. Follow these steps…

Gather your documents: You’ll need to show proof of your high-net-worth exemption and, if borrowing against assets, an asset and liabilities statement.

The general documentation required to complete a mortgage application will also be needed, including proof of ID, address, and deposit funds. The guide to mortgage applications contains a complete list of all the required documents.

Talk to a high-net-worth mortgage broker: This step is often mandatory if you need access to private lenders, as many of them only work through intermediaries.

Our brokers are experts in private lending and have the contacts, knowledge and experience to help you find the right lender. Send us an enquiry, and we’ll connect you with one of these advisors.

Let your broker do the rest. Once you have been matched with a broker, they will introduce you to potential private lenders. A broker can help you negotiate the perfect deal for your situation. They will also make sure that you receive the best terms and rates.

Are high-street banks able to offer private mortgages?

Yes – many of the largest high-street lenders have private mortgage arms.

  • Natwest
  • Barclays
  • HSBC
  • Clydesdale
  • Lloyds

You must meet the requirements for exemption from high net worth to be eligible for private lending at these banks and building society.

While bespoke deals may be available, keep in mind that private lenders often limit the amount of money you can borrow. A ceiling of around PS10 million is not uncommon.

Our brokers have connections in the private department of mainstream lenders. This allows them to access these people and offer you deals.

Another benefit to using a high-net-worth broker is that they can help you compare the private offerings of mainstream lenders to yours and to compare them to private mortgage providers.

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A second mortgage can be taken out

Private mortgages are possible. A lender may be able to offer you a customized deal if you are eligible for the high net worth exemption. Each case will determine the rates and terms that you’ll receive.

Private lending is often treated with more strictness than second mortgages. This could mean higher interest rates and lower loan-to-value (LTV) ratios. It can also lead to a more stringent financial stress test.

Private mortgages for buy-to-let

Private buy-to-let mortgages can be obtained and are evaluated in the same way as regular investment property mortgages. These mortgages are offered on an individual basis, just like private residential mortgages.

The type of deal you get will depend on the strength of your investment and potential rental income.

You don’t have to use a specific percentage of your rental income if the mortgage is secured against assets. Private residential mortgages have a higher deposit requirement than private residential mortgages. They typically have a loan-to-value ratio of 90% unless they are secured against cash.

Commercial mortgages

Private lenders are also available for commercial mortgages. Private lenders account for a large portion of the commercial mortgage market due to the ‘bespoke’ nature of commercial financing agreements.

Specialist private lenders will often finance larger commercial mortgages. Your typical high-street bank or building society may not be as open to taking on that risk.

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What happens if your credit score is not good?

This isn’t as important as a regular mortgage, but it doesn’t make it a deal-breaker. Private lenders have different lending criteria than those on the high street. They are more concerned with the applicant’s security and overall strength.

They are able to finance customers with any type of credit and will not be worried if you have adverse circumstances that could put the deal at risk.

However, lenders will ask about your credit history if you have bad credit. It might affect the type of deal that you are eligible for in some cases.

Match you with a private mortgage specialist

A specialist broker is a must if you are looking for private mortgages. Although many of the lenders in this market operate only through intermediaries, the information you need is at your fingertips.

We only work with brokers that specialise in private mortgages and high-net-worth mortgage lending. They have the knowledge, expertise, and contacts to help you get the best deal.

We’ll help you find the right private mortgage broker to help you today. Call us at 0808 189 2301, or Make an enquiry.


If I am self-employed, can I get a private loan?

Yes, many people eligible for exemption from high-net-worth mortgages are self-employed. Private lenders are fully aware of this fact. These lenders can cater to the needs of self-employed wealthy individuals.

They are flexible enough and able to accept complicated incomes and offer customized deals.

Can I get a private interest-only mortgage?

These are quite common. You will need to show proof of a repayment mechanism and convince the lender that the loan will provide enough capital to repay the mortgage debt.

If their income is low, but their investments are high, this is an option that some high-net-worth individuals select.

Can I get a private loan in Ireland?

We can access private lenders in the UK and Ireland through our high-net-worth mortgage brokers. There are no differences in the rules regarding high net worth exemption. Mortgages for those who meet these criteria are negotiated on an individual basis.

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