High Net Worth Mortgage Broker UK
Fox Davidson arranges large mortgages from £1m for clients who meet the FCA’s high-net-worth definition: annual net income above £300,000 or net assets above £3 million, with main residence equity included.
We work with entrepreneurs, hedge fund managers, business owners, and senior professionals with complex income structures, including carried interest, equity vesting, dividend-led income and multi-jurisdiction wealth.
Who qualifies for an HNW mortgage in practice?
What we have found over the last few years is that more clients qualify under the FCA's asset definition than the income one. A senior professional in their 50s with paid-off equity in their main residence and an investment portfolio frequently meets the £3 million threshold even if their annual income sits below £300,000. We assess both routes at the start of the conversation, because the route that qualifies often shapes the lender list.
The flexibility the FCA high net worth rules opens up is what most clients are actually buying. Interest-only borrowing tied to a clear capital event (property sale, RSU vesting, business exit). Terms running past standard retirement age. Income assessments that combine base salary with carried interest, equity vesting, dividend-led income or investment returns. None of this is available on standard residential affordability rules.
Not sure if you qualify? Run the FCA HNW qualification check to see whether you meet the income test, the net assets test, or both. The calculator applies the rule as UK lenders interpret it in practice.
Expert High Net Worth Mortgage Broker Services
High net worth mortgages differ from standard products in one fundamental way: lenders assess total wealth, diverse income sources and complex asset structures rather than salary multiples alone.
Under the FCA high net worth rules, the FCA framework for HNW lending, qualifying borrowers access larger loans, interest-only structures, terms past retirement age, and income assessments that include carried interest, equity vesting and investment returns.
Private banks typically lend £3m to £30m+, specialist lenders £1m to £15m+, and high street lenders usually cap complex cases at £1m to £2m.
Specialist Funding from £1m
We arrange high net worth mortgages from £1 million to £50 million and beyond on single assets and portfolios.
Total Wealth Assessment
We work with lenders who assess total wealth, investments and assets rather than applying strict income multiples.
Interest-Only Structures
Interest-only mortgages widely available for HNW borrowers with clear repayment strategies including investment portfolios, RSU vesting and business exit.
Private Bank Relationships
Established relationships with Coutts, Investec, Arbuthnot Latham, Hampden & Co, Julius Baer, UBS, Lombard Odier and Weatherbys.
Complex Income Handled
Carried interest, RSU and equity vesting, dividend-led income, retained profits, foreign currency income, trust distributions and partnership profit shares.
Dry Lending Available
Some private banks offer lending without requiring assets under management transfer. We identify the lenders who offer it.
Which lenders we work with for HNW mortgages
We arrange HNW mortgages across more than 100 UK and international lenders. The lender list is the difference between a workable deal and a decline. Most HNW borrowers approach two or three private banks directly, hit one bank's specific criteria limit, and assume the wider market will do the same. In our experience, that is rarely true.
Often we find that a borrower declined by their existing private bank for a £4 million mortgage gets a sensible offer from a building society's HNW desk that the borrower did not know existed. The lender categories we use most commonly:
- Private banks (Coutts, Weatherbys, Arbuthnot Latham, Investec, Hampden & Co, Lombard Odier, Julius Baer, UBS and overseas equivalents) for clients with significant investable assets and a wealth-management relationship.
- Building societies with HNW manual underwriting desks (Harpenden Building Society, Hampden & Co, Vernon, Penrith) for asset-rich, income-flexible cases that need the FCA high net worth rules treatment, including rural HNW residential and clients past standard retirement age.
- Challenger banks (Aldermore, Paragon, OakNorth) for cases where speed and flexibility outweigh the rate.
- Specialist underwriters and family offices for the most complex cases, including offshore structures, carried interest, multiple income streams and non-UK residency.
Where ownership is held through an SPV, family investment company, or trust (bare or discretionary, UK or offshore), the lender list narrows significantly. We work with the specialist private bank desks (Hampden & Co, Investec, Arbuthnot Latham among others) that underwrite non-individual ownership, plus specialist HNW underwriters and family offices for the most complex offshore structures. Naming the structure correctly at the start of the conversation usually halves the time spent on lender selection.
What each lender tier actually looks like
The four tiers below cover almost every HNW residential case we place. Where a client sits depends less on loan size and more on the income narrative, the ownership structure, and whether assets under management transfer is acceptable to the borrower.
| Lender tier | Typical loan size | Typical LTV | Best for |
|---|---|---|---|
| UK private banks Coutts, Weatherbys, Arbuthnot Latham, Investec, Hampden & Co |
£3m to £30m+ | Up to 70% standard, up to 90% on prime profiles | Clients with significant investable assets, complex income, multi-property cross-charge, interest-only with capital event exit. Some require AUM transfer, others lend dry. |
| International private banks Julius Baer, UBS, Lombard Odier, J.P. Morgan Private Bank |
£5m to £50m+ | Up to 70% | Non-UK residents, foreign currency income, multi-jurisdiction wealth, offshore ownership structures. Existing wealth-management relationship usually expected. |
| Building society HNW desks Harpenden, Hampden & Co, Vernon, Penrith, Suffolk, Furness |
£1m to £5m | Up to 80% | Asset-rich, income-flexible cases needing the FCA high net worth rules treatment. Strong on rural HNW, lending past standard retirement age, manual underwriting and pragmatic income assessment. |
| Specialist HNW underwriters and family offices | £1m to £15m+ | Up to 80 to 85% on exceptionally strong profiles | Carried interest, offshore structures, multiple income streams, non-UK residency. The route when private banks decline and the case still has substance. |
High street lenders are absent from this table by design. On HNW cases above £1.5m, mainstream affordability rarely fits cleanly, and the cases we see decline at high street level almost always place at one of the four tiers above.
How Fox Davidson Arranges Your HNW Mortgage
High net worth mortgage applications require a narrative-driven approach that goes far beyond a standard affordability calculation.
Step 1: Wealth and Income Review
We assess both the FCA HNW routes at the start. Annual net income above £300,000 under MCOB 1.2.10R, or net assets above £3 million. The route that qualifies often dictates the lender list, so naming it correctly first saves time later.
We then unpack the income narrative. Base salary, full two-year bonus average, vested and unvested RSU allowances, carried interest, dividend-led income, retained profits, foreign currency income, trust distributions and partnership profit shares are each given fair weight by the right lender.
Step 2: Lender Strategy
We map your profile against our 100+ lender panel, including private banks, building societies with HNW manual underwriting desks, challenger banks, and specialist HNW underwriters. We identify which two or three lenders are most likely to engage with your specific case before a single application is filed.
Where dry lending without AUM transfer is preferable, we name the private banks who offer it. Where cross-charge security or trust-held ownership is in scope, we direct the case to the desks that underwrite those structures cleanly.
Step 3: Application and Completion
We package the full evidence pack at the start of the case so it is ready when the lender requires it: audited accounts where applicable, P60s and SA302s, six months of bank statements, an investment portfolio statement, trust deeds where security is held in trust, and an FCA-format statement of high net worth.
Most cases complete in four to eight weeks from instruction. Where speed is the constraint we have completed in three weeks via specialist HNW lenders. Cases involving offshore structures or trust ownership typically run eight to twelve weeks.
£2.8m London purchase, complex income
A representative case from earlier this year, anonymised. Client earned £180,000 base salary plus £400,000 bonus and held £2.4m in vested RSUs from a US tech employer. Looking to buy a £2.8m London home with a £1.05m deposit (37.5%) and a £1.75m mortgage. He had been declined by his existing private bank because the bank assessed him on base salary plus 50% of the prior-year bonus, giving usable income of £380,000, and applying their internal 4.5x multiple capped his loan at £1.71m, just under the requirement.
What we did was identify a specialist HNW lender that uses base salary, the full average of the last two years' bonus, and a discounted RSU allowance based on the vesting schedule. Combined assessable income reads as £640,000. At 5.5x income, the maximum loan is £3.52m, comfortably above the £1.75m needed. The case was approved on a 5-year fixed at 4.85% interest-only with a 25-year term and full repayment from RSU vesting events. Completed within nine weeks.
The £1.75m mortgage went through on a structure his existing bank could not deliver, at a rate 0.2 percentage points below the closest equivalent. Same client, same property, same week, different lender list and different income structuring.
£4.5m Cotswolds purchase, asset-rich entrepreneur post-exit
A representative case from the last twelve months, anonymised. Client had sold a tech business eighteen months earlier. Declared annual income at the time of application was £85,000 (modest dividends from a holding company plus director's loan repayment). Net asset profile was substantially stronger: £6.2m in liquid investments, £1.8m in a SIPP, £950,000 in an offshore investment account, plus the proceeds from the business sale held in trust for the client and family.
Looking to buy a £4.5m Cotswolds country house with a £1.5m deposit and a £3m mortgage on interest-only terms with a 15-year term. Standard high street affordability did not work. At 4.5 times £85,000 declared income, the maximum loan would have been £382,500. Even applying the FCA HNW exemption under MCOB 11.6.15R, mainstream lenders' processes were not built for the case.
What we did was approach two private banks with the case framed as asset-led under the FCA high net worth definition. The first private bank required £2m AUM transfer. The second offered the same loan size on a dry lending basis with no AUM requirement. Approved at 4.95% on a 5-year fixed, interest-only, with the exit strategy being the planned drawdown of the offshore investment account in years 12 to 15. Completed within seven weeks of initial conversation.
£2m Knightsbridge purchase, non-UK resident in USD
A representative case from earlier this year, anonymised. Client was a Middle East-based senior corporate executive looking to buy a £2m Knightsbridge new-build apartment as a UK pied-a-terre. Pay was in USD. No UK credit history, no UK tax residency, no existing UK banking relationship. Completion deadline was eight weeks from initial conversation because the developer would not extend the new-build reservation any further.
High street and most UK private bank routes were off the table immediately. High street lenders will not assess foreign currency income at full value and require UK credit history. Most UK private banks wanted an AUM transfer of £1m+ before opening the conversation, and could not commit to the timeline. The viable lender list was three international private banks with London desks and a single specialist HNW underwriter.
What we did was approach the international private bank where the client's employer already held a corporate banking relationship. The bank converted USD income at a 15% haircut, treated the existing offshore deposit balance as security alongside the UK property, and approved the £2m loan at 65% LTV on a 5-year fixed at 5.15%, interest-only over a 10-year term. Exit strategy was sale or refinance on relocation to the UK. Completion landed at week seven, one week ahead of the developer deadline.
The case would not have placed without naming the right three lenders at the start. Going direct, the client had approached two UK private banks and been told eight to twelve weeks minimum and AUM transfer required. The route that worked was a lender the client had no existing relationship with.
How specialist lenders assess complex HNW income
Six lenders publish, in their own words, that they do not credit score and that a human underwrites every case. That is usually the difference between a decline and an offer where income arrives in several forms. We list them, alongside the published income multiples, bonus percentages and foreign currency haircuts, in our UK mortgage lender criteria comparison.
The single biggest determinant of HNW affordability is how a lender treats income that is not base salary. Standard 4.5x multiples ignore the parts of an HNW package that often make up the majority of total earnings. Specialist lenders do not. Below is how the four most common HNW income types are typically credited.
Bonuses and carried interest
High street lenders typically credit 50% of the prior-year bonus. Specialist HNW lenders credit 100% of a two-year bonus average where the pattern is sustainable, and selected private banks credit 100% of a three-year average. Carried interest is rarely assessable at high street level. Private banks and HNW specialist lenders assess carry across a vesting cycle and discount for realisation timing, typically crediting 50% to 70% of the historic three-year average.
RSUs and equity vesting
High street lenders rarely credit RSUs at all. Specialist HNW lenders credit 50% to 70% of the vested RSU allowance over a forward two to four year schedule, discounted for share price volatility. The exit strategy on the mortgage often references the same vesting schedule, which is why a clear written vesting plan strengthens the case materially.
Business income and dividends
High street lenders assess director income as salary plus declared dividends only. Specialist HNW lenders take a true profitability view, crediting salary plus dividends plus retained profit (where reinvestment is documented), typically against two to three years of audited accounts. This is the difference between a £337,000 maximum loan and a £1m+ approval on the same business.
Overseas income
High street lenders rarely lend on non-GBP income at all. International private banks and selected UK private banks accept overseas income with a 10% to 20% currency haircut depending on the currency and remittance pattern. Income paid into a UK bank account, even from an overseas source, is treated more favourably than income held offshore.
When does using a broker beat going direct to a private bank?
Most HNW borrowers approach two or three private banks directly, hit one bank's specific criteria limit, and assume the wider market will do the same. In our experience, that is rarely true.
Going direct to a private bank works when you are already a client with significant assets under management at that bank, your case fits their internal criteria cleanly, and you want the relationship for wider wealth services. The bank applies its own affordability framework, often offers a preferential rate against the AUM you transfer, and treats the mortgage as part of the relationship.
Going through Fox Davidson works when you want to compare private bank terms against specialist HNW lenders and high street HNW desks, your case has any element a single bank may struggle with (foreign income, non-UK residency, complex ownership structure, low declared income against high net worth), or you want to keep your AUM where it currently sits and arrange the lending separately. Dry lending without AUM transfer is available with selected private banks. We identify the lenders who offer it.
Our broker fee is a flat £495 payable on application. The trade-off in using a broker rather than going direct is access to a wider lender list and the option to switch routes if the first lender declines, which on £2 million plus HNW cases is rarely a small consideration. We hold direct underwriter relationships at the principal HNW lenders and can pre-approve your case informally before formal application.
The case where a broker adds least value is the simple, well-presented case for an existing private bank client with substantial AUM. The case where a broker adds most value is the case any single bank's criteria does not fit cleanly.
Run the numbers
Before you commit to a purchase, model the qualification position and the stamp duty cost so you know what route applies and the all-in price.
HNW Mortgage Qualification Calculator
the FCA high net worth definition test. £300,000 income or £3,000,000 net assets, applied as UK lenders read it in practice (primary residence and pension included).
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SDLT, LBTT and LTT for residential, first-time buyer, second home, non-UK resident and commercial property.
Open CalculatorSpeak to a high net worth mortgage specialist
Contact Fox Davidson for a confidential HNW mortgage consultation. We arrange specialist funding from £1 million to £50 million plus for high net worth individuals across the UK and internationally.
Why a specialist HNW broker matters
The HNW mortgage market is a relationship business. The lender list matters more than the rate, the income structure matters more than the loan amount, and the broker who knows which underwriter at which lender will engage with which profile is the broker who places the deal. That is what we do.
Indicative rates and lending metrics. Rates and criteria vary by lender, scheme type, location and borrower profile. Speak to us for figures specific to your case.
Frequently Asked Questions
What qualifies as a high net worth mortgage?
Under MCOB 1.2.10R, a high net worth mortgage is a regulated mortgage where the borrower has annual net income above £300,000 or net assets above £3 million. The FCA HNW exemption sits in MCOB 11.6.15R and allows lenders to apply flexible affordability assessments rather than the standard responsible lending stress test.
What is the minimum loan for a high net worth mortgage?
Fox Davidson's minimum loan for HNW mortgage advice is £1 million. Specialist HNW lenders operate in the £1 million to £15 million range. Private bank facilities typically start at £3 million. High street lenders usually cap complex cases at £1 million to £2 million.
Can high net worth individuals get interest-only mortgages?
Yes. Interest-only mortgages are widely available for HNW borrowers with a clear and credible repayment strategy documented at application. Accepted exit strategies include investment portfolio drawdown, RSU vesting, business exit, property sale and pension lump sum. Some private bank lenders will accept clients past age 90 where the income source is sustainable.
Do private banks require assets under management?
Some do. Private banks typically require £1 million plus in assets under management as part of the relationship. Other private banks offer dry lending without an AUM requirement, where the mortgage is arranged on its own merits. Fox Davidson identifies which private banks offer dry lending and which require AUM transfer, so you can keep your wealth where it sits if you want.
How are complex HNW income sources assessed?
Private banks and specialist lenders take a holistic view. Foreign income, dividends, carried interest, RSU vesting schedules, trust distributions, partnership profit shares and retained business profits are all assessable. We position the income narrative around the lender's internal criteria so each component is given fair weight, rather than applying a rigid 4.5x multiple to base salary alone.
What LTV is available for high net worth mortgages?
Standard HNW LTV runs 75 to 80 percent. Up to 90 percent is available with selected private banks for prime profiles. On loans above £10 million the typical LTV ceiling is 60 to 70 percent. Specialist lenders may extend to 80 to 85 percent for exceptionally strong profiles with significant liquid assets as additional security.
What FCA rules apply to a high net worth mortgage?
The HNW definition sits in MCOB 1.2.10R. The lender-side affordability exemption sits in MCOB 11.6.15R. Brokers still owe a suitability duty under MCOB 4.7A and a fee disclosure duty under MCOB 4.4A regardless of the borrower's wealth. The HNW disclosure variant sits in MCOB 6.7. The wider perimeter guidance is in PERG 4.10B.
How do you verify HNW status under MCOB 1.2.10R?
Verification requires a signed customer statement of high net worth supported by reasonable evidence: audited accounts where applicable, P60s and SA302s, six months of bank statements, an investment portfolio statement and trust deeds where the security is held in trust. Where the lender requires it, an accountant-signed certificate of high net worth status. We collate the evidence pack at the start of the case so it is ready when the lender requires it.
Do HNW clients keep Financial Ombudsman Service protection?
Yes. The HNW exemption under MCOB 11.6.15R applies only to the lender's affordability assessment. As a broker we still owe you a suitability duty under MCOB 4.7A, and the regulated mortgage contract itself remains within scope of FCA conduct rules. FOS access is preserved on every regulated residential HNW mortgage we arrange.
Are you tied to any single lender?
No. Fox Davidson provides independent mortgage advice across a lender list of more than 100 UK and international lenders. We are not tied to any single bank, panel or product range. All recommendations are based on the lender that fits your case, with all procuration fees fully disclosed in the Initial Disclosure Document at first contact.
What is your fee structure for an HNW mortgage?
Our broker fee is a flat £495 payable on application, regardless of loan size. We disclose the fee in the Initial Disclosure Document at first contact. No fee is payable before application. We also receive a procuration fee from the lender on completion, which is disclosed in full alongside our broker fee.
What documents will I need to provide?
For a typical case: three years of audited accounts where applicable, P60s and SA302s for the last two tax years, six months of personal and business bank statements, an investment portfolio statement, a property schedule for any existing portfolio, trust deeds where the security is held in trust, and an FCA-format statement of high net worth where the exemption is being used. We coordinate the documentation with your accountant and solicitor directly.
How long does an HNW mortgage take to complete?
Typical HNW residential cases complete in four to eight weeks from instruction to completion. Where speed is the constraint, we have completed cases in three weeks via specialist HNW lenders with manual underwriting. Cases involving offshore structures, foreign currency income or trust ownership typically run eight to twelve weeks because of the additional documentation and lender review required.
How is non-UK resident HNW income assessed?
International private banks and selected UK private banks lend to non-UK residents on a regulated basis where the security is a UK residential property. Income paid in a foreign currency is typically credited with a 10 to 20 percent haircut depending on the currency and the remittance pattern. Income paid into a UK bank account is treated more favourably than income held offshore. We have placed cases for clients based in the Middle East, Singapore, Hong Kong and the US, including new-build completions with sub-eight-week deadlines.
How are RSU and equity vesting schedules treated for mortgage affordability?
Specialist HNW lenders credit 50 to 70 percent of the vested RSU allowance over a forward two to four year schedule, discounted for share price volatility. The vesting schedule is usually evidenced by a written grant letter and the employer's standard equity plan documentation. The mortgage exit strategy often references the same schedule, so a clear written vesting plan strengthens the case materially. High street lenders rarely credit RSUs at all, which is why employees of US tech employers and FTSE-listed firms paid heavily in equity sit naturally in the HNW route.
How is carried interest assessed by HNW mortgage lenders?
Carried interest is assessable at private bank and specialist HNW lender level, not at high street level. Lenders take a three-year historic average and discount for realisation timing, typically crediting 50 to 70 percent of that average. Where carry has only just begun to vest, lenders may treat it as supporting income rather than the primary affordability lever, and the case is structured around base salary plus bonus plus a sustainable share of the carry. Private equity, venture capital and hedge fund partners are placed routinely on this basis.