Private Bank Mortgage Broker UK
Fox Davidson arranges private bank mortgages from £1 million through Coutts, Weatherbys, Arbuthnot Latham, Investec, Hampden & Co, Hoare & Co, J.P. Morgan Private Bank, UBS, Lombard Odier, Julius Baer and the wider UK and international private bank market. Whole-of-wealth assessment under the FCA high net worth definition. Interest-only at 65 to 90% LTV. Investment portfolios counted as income or security.
Dry lending without AUM transfer available with selected banks. Where AUM commitment fits your investment plan, relationship-led pricing can save 50 to 200 basis points. We model the total cost across the fix, including wealth management fees on transferred assets, before recommending a route.
Talk to us about your private bank mortgage
Tell us the loan size and what you are buying or refinancing. We call you back to talk through which lenders fit your income and assets, and what each one will ask for.
- Tell us about the case. Two minutes on the form, or call us.
- We match the lenders. We test your income, assets and the property against private bank criteria, and against the high street large-loan desks where they beat it, then call you with the options.
- We package and submit. One complete application to the lender you choose, managed through to offer and completion.
03300 100313Monday to Thursday 9am to 5pm, Friday 9am to 4pm. Closed weekends.
“Due to slightly challenging employment status (startup founder) we were really struggling to secure a suitable mortgage going through 5 mortgage brokers before we found Fox Davidson.”
“Fantastic service, completed our mortgage from initial enquiry to formal offer within a calendar month.”
“Fantastic, fast, and able to secure a better mortgage for us than others.”
Who qualifies for a UK private bank mortgage in practice?
A private bank mortgage is a residential mortgage arranged under the FCA high net worth rules, which allows whole-of-wealth assessment rather than standard income-multiple affordability. The qualifying threshold is £3 million in net assets, or £300,000 in annual income. Most private bank cases sit comfortably above one or both thresholds.
For trusts, family investment companies and US citizens resident in the UK, C. Hoare & Co is often the first bank we call.
Private banks accept introductions from a short list of brokers, and the test of a broker is which banks will take its calls; our guide on choosing a large mortgage broker explains how to ask that question by lender tier.
Our guide to investment-backed mortgages covers how banks monetise a portfolio as income or take it as security, with worked examples.
Compare the UK private bank mortgage lenders, including minimum loan sizes and qualifying routes at each.
We also publish lender-by-lender guides to Coutts mortgages and Investec mortgages, covering each bank's minimum loan, income test, products and where the high street beats it.
Private bank lending makes commercial sense from around £1.5 million to £2 million of borrowing. Below that, the asset transfer expectation, the wealth management fees and the relationship setup time often work out worse than a specialist or premier banking lender. Above £2 million, the flexibility and pricing advantages start to compound. Above £5 million the private bank route is often the only route that works cleanly.
Not sure if you meet the FCA high net worth rules threshold? Run the FCA HNW qualification check to confirm whether you meet the income test, the net assets test, or both. The calculator applies the rule as UK private banks read it in practice.
Private banks are one route for this client. For the full picture of lenders, income treatment and structures above £1 million, start with our high net worth mortgage broker page.
Specialist Private Bank Mortgage Broker
Private banks differ from retail lenders in three structural ways. They underwrite manually rather than via algorithm. They operate under the FCA high net worth definition so they assess whole-of-wealth rather than income multiple. And they typically expect the client to bring investable assets to the wealth management arm as part of the relationship, though some private banks offer dry lending without that requirement.
What we have seen over the last few years is that the gap between private bank and specialist pricing has narrowed at the £1m to £2m loan band, but widened on cases above £5m where private banks remain the only viable route. The decision of which lender to approach is rarely about rate alone. It is about which bank's credit committee is most likely to engage with the client's profile, which AUM expectation fits the client's investment plans, and which structural flexibility (interest-only at high LTV, portfolio-backed security, multi-currency) matters most.
Lending From £1m
We arrange private bank mortgages from £1 million to £50 million and beyond. Most private banks operate in the £1m to £30m range, with European and American banks lending above £5m on substantial AUM relationships.
Whole-of-Wealth Assessment
Under the FCA high net worth rules, private banks assess base salary, two-year bonus average, carried interest, vesting equity, dividend-led income, retained business profits and investment portfolio rather than a rigid 4.5x income multiple.
Interest-Only at High LTV
Most private bank residential mortgages run on interest-only at 65 to 90% LTV. 85% LTV is achievable with Investec to £5 million and with Handelsbanken on its Standard Plus terms, where income, assets and the exit support it. Capital repayment supported by planned business exit, vesting equity, investment portfolio drawdown or property sale.
UK and International Banks
Direct relationships with Coutts, Weatherbys, Arbuthnot Latham, Investec, Hampden & Co, Hoare & Co, Brown Shipley, Cater Allen, plus J.P. Morgan PB, UBS, Lombard Odier, Julius Baer, Pictet, BNP Paribas and Citi for larger international cases.
Dry Lending Available
Selected private banks offer mortgage lending without an AUM transfer requirement. We name the lenders who lend dry and the lenders who insist on substantial AUM commitment. Private banks can also count a managed portfolio as income without taking a charge over it, which we cover in how private banks monetise assets for a mortgage.
Portfolio-Backed Structures
Private banks can count an investment portfolio as income or take it as extra security, so you borrow more without selling investments.
Which private banks we work with for UK residential mortgages
We work with all major UK private banks and a number of European and American banks operating in London. Each lender has its own credit appetite, AUM expectation, country coverage and structural flexibility. The right bank for any case depends on the borrower profile, loan size, asset position, currency of wealth and existing relationships. The lender categories we use most commonly:
- UK-headquartered private banks active in mortgage lending: Coutts (long-established, NatWest Group), Barclays Wealth and Investments (private banking arm of Barclays), HSBC Private Bank (HSBC Group), Hampden & Co (independent), Weatherbys Private Bank (independent, family-owned), Arbuthnot Latham (boutique), Investec (focused on entrepreneurs), Cater Allen (Santander Group), Brown Shipley (Quintet Private Bank UK arm), Hoare & Co (oldest private bank in the UK).
- European and American banks operating in London with mortgage capability: J.P. Morgan Private Bank, UBS, Lombard Odier, Julius Baer, Pictet, BNP Paribas, Citi Private Bank and Goldman Sachs (selective). These banks typically lend on larger amounts (£3m+) and require substantial asset transfer.
- Building societies with HNW manual underwriting desks for clients where a private bank relationship is not the right fit but specialist HNW manual underwriting is needed: Harpenden Building Society, Hampden & Co, Vernon and Penrith.
Each lender's appetite changes week to week. Coutts may price aggressively on one £2m case and decline a £5m case that Investec writes the same week. We track current criteria across all the active private banks and place each case where the combination of rate, LTV, AUM expectation and credit appetite produces the best outcome. Where ownership is held through an SPV, family investment company or trust, the lender list narrows further. We work with the specialist private bank desks that underwrite non-individual ownership cleanly.
What each private bank tier looks like
The four tiers below cover almost every private bank case we place. Where a client sits depends on loan size, AUM appetite, currency of wealth and existing banking relationships.
| Tier | Typical loan size | AUM expectation | Best for |
|---|---|---|---|
| UK private banks Coutts, Weatherbys, Arbuthnot Latham, Investec, Hampden & Co, Hoare & Co |
£1m to £30m | 25% to 50% of loan typical, dry lending available with selected banks | Domestic HNW clients, complex income, multi-property cross-charge, interest-only with capital event exit. |
| International private banks J.P. Morgan PB, UBS, Lombard Odier, Julius Baer, Pictet, BNP Paribas, Citi PB |
£3m to £50m+ | Substantial, typically 50% to 100% of loan | Non-UK residents, foreign currency income, multi-jurisdiction wealth, existing international wealth management relationship. |
| UK clearing bank private arms Barclays Wealth, HSBC Private Bank, Cater Allen, Brown Shipley |
£1m to £15m | Variable, often relationship-led rather than fixed AUM | Existing clearing bank relationships that scale up into private banking. Strong on cross-product lending. |
| HNW building society desks Harpenden, Hampden & Co, Vernon, Penrith, Suffolk |
£1m to £5m | None | Asset-rich, income-flexible cases needing the FCA high net worth rules treatment without AUM commitment. Strong on rural HNW and lending past standard retirement age. |
High street lenders are absent from this table by design. Above £2m of borrowing on a complex income profile, 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 Private Bank Mortgage
Private bank applications turn on lender selection and presentation. The same case will get materially different terms from different private banks. We map the case to the right two or three banks before any application is filed.
Step 1: Wealth, Income and AUM Position Review
We assess High net worth qualification first. £300,000 income or £3 million net assets. We then unpack the income narrative: base salary, two-year bonus average, carried interest, RSU and equity vesting, dividend-led income, retained business profits, foreign currency income and trust distributions are each given fair weight by the right private bank.
We map the AUM position: existing wealth management relationships, the assets that could realistically transfer, and the structural preference for dry lending versus relationship-led pricing. The AUM decision shapes the lender list more than rate appetite does.
Step 2: Bank Selection and Structure
We identify the two or three private banks most likely to engage with the case. For domestic HNW clients with £2m to £5m loan need and £1m+ AUM willingness, the shortlist typically includes one UK boutique private bank and one UK clearing bank private arm. For non-resident HNW clients, the shortlist typically includes one UK private bank with international capability and one European or American private bank. For £5m+ cases the shortlist always includes at least one international private bank.
Where a portfolio can support the mortgage, as income or as extra security, we model each route and present one coherent borrowing plan. Where dry lending without AUM transfer is preferable, we name the private banks who offer it and present the case to those lenders only.
Step 3: Application, Credit Committee and Completion
We package the full evidence pack at the start: three to five years of personal tax returns, three years of business accounts where applicable, full investment portfolio statements, evidence of liquid asset holdings, employment contracts and bonus structure documents, source-of-funds documentation and KYC pack. For business-owner cases, we include accountant-confirmed business valuation and corporate finance adviser indicative valuation where appropriate.
Most private bank cases complete in four to twelve weeks from instruction. Cases that fit a private banker's delegated authority limit complete faster. Cases requiring credit committee approval (usually for loans above £5m or £10m depending on the bank) depend on committee scheduling. Complex cases involving multiple asset classes or offshore structures typically run ten to sixteen weeks.
£5m London purchase, comparison across four private bank routes
A representative case from earlier this year, anonymised. Client was a 50-year-old founder mid-way through a business exit, expected to realise £20m in two years. Looking to buy an £8m London property now with a £5m mortgage on interest-only terms. £3m of cash and £2m of investment portfolio held with two different wealth managers. The case fits comfortably under the FCA high net worth definition. The question was which private bank route to take.
We approached four routes. The table below shows the indicative pricing returned by each, with the AUM expectation and the five-year interest cost differential. All four are real lender appetites at this profile.
| Route | Rate (5y fix, IO) | Monthly cost | AUM transfer | Notes |
|---|---|---|---|---|
| Specialist HNW lender | 5.20% | £21,667 | None | Likely declines £5m at requested LTV. Backup only. |
| Private bank A (relationship-led) | 4.65% | £19,375 | £2m | Best headline rate. Full AUM commitment from existing portfolio. |
| Private bank B (smaller AUM) | 4.95% | £20,625 | £1m | Mid pricing. Smaller AUM transfer. Leaves portfolio diversification. |
| Private bank C (dry lending) | 5.85% | £24,375 | None | Premium pricing. No AUM commitment. Full structural flexibility. |
The headline saving from full AUM commitment on Private Bank A over the dry lending route at Private Bank C was approximately £300,000 of interest cost across the five-year fix. That figure must be netted against the wealth management fees on the £2m AUM, typically £20,000 to £30,000 per year, or £100,000 to £150,000 across the five years. The genuine economic comparison after fees showed Bank A still ahead, but by a narrower margin than the headline rate suggested.
The client took Private Bank B in the end. The £1m AUM commitment fit the existing portfolio better, the rate differential to Bank A was acceptable given the lower wealth management cost, and the relationship felt right for the post-exit phase when the £20m proceeds would arrive. Completed at week eight.
£8m Mayfair purchase, non-resident in EUR with offshore structure
A representative case from the last twelve months, anonymised. Client was a European-based senior corporate executive, EUR-denominated salary equivalent to approximately £900,000 plus annual bonus averaging £400,000 over three years. UK property to be held through a Jersey company for inheritance planning. Looking to buy an £8m Mayfair apartment with £2.4m deposit (30%) and a £5.6m mortgage.
UK private bank routes were complicated by the offshore structure. The viable lender list was three international private banks with London desks and one UK boutique private bank with Jersey corporate structure experience. We approached the international private bank where the client's employer already held a corporate banking relationship and the UK boutique in parallel.
The international private bank offered 65% LTV at 4.75% on a 5-year fixed with €3m of AUM transfer required. The UK boutique offered 65% LTV at 5.05% with £1.5m of AUM transfer and clean handling of the Jersey corporate structure including ROE registration verification. The client took the UK boutique route because the smaller AUM commitment and the structural fit on the Jersey ownership outweighed the 30 basis-point rate differential. Completed at week eleven including offshore legal opinion sign-off.
How AUM transfer and your portfolio shape the right structure
Most private banks expect assets under management of 25% to 50% of the loan value, and relationship-led pricing typically sits 50 to 200 basis points below the dry lending rate. Coutts and Investec lend on a relationship basis; Handelsbanken and Butterfield lend without an AUM requirement, subject to appetite at the time.
The two structural decisions on every private bank case are how much AUM to transfer and whether to use your portfolio as income or extra security. Both affect headline rate, total cost across the fix, and the flexibility of the wider borrowing position.
AUM transfer mechanics
Most private banks expect 25% to 50% of the loan value as AUM. The assets can be cash, investment portfolios, equities, fund holdings, and in some cases trust assets and structured products. The wealth management arm charges a management fee of 0.5% to 1.5% per year depending on portfolio size and complexity. This fee has to enter the borrower's total cost calculation alongside the mortgage rate.
Selected private banks (notably some UK boutique independents and a small number of UK clearing bank private arms) lend dry without an AUM transfer requirement. The rate is usually 50 to 200 basis points higher than the relationship-led equivalent. Whether dry or AUM-backed is the right choice depends on the borrower's existing wealth management arrangements, investment plan and view on portfolio concentration.
Using your portfolio to support the mortgage
A private bank can use an investment portfolio in two ways. It can monetise the portfolio, applying an assumed return of typically 3% to 5% a year and counting the result as income, with the loan secured on the property alone. Or it can take a pledge over part of the portfolio as extra security, so it lends more against the property than it would on the house alone.
Both routes avoid selling investments and crystallising gains. A pledge carries a risk the income route does not: if the portfolio falls, the bank can ask for more security. Our guide to investment-backed mortgages covers both routes with worked examples. We do not arrange standalone Lombard loans.
High street, specialist and private bank compared
| Feature | High street | Specialist HNW | Private bank |
|---|---|---|---|
| Minimum loan | £25,000 | £250,000 | £1m (some £500k) |
| Maximum loan | £3m to £5m | £10m | £50m+ (no upper cap) |
| Affordability test | Income multiple plus DTI | Manual underwriting, flexible income | Whole-of-wealth assessment |
| Income treatment | Salary plus 50% of bonus | Up to 100% bonus, RSU, dividend | Full picture including business value |
| Maximum LTV | 95% | 85% | 90% (typically 65 to 75%) |
| AUM transfer | None | None | 25% to 100% typical, dry lending available |
| Application time | 3 to 4 weeks | 5 to 7 weeks | 4 to 12 weeks |
| Portfolio used as income or security | No | No | Yes, at selected banks |
When does using a broker beat going direct to a private bank?
Most private bank borrowers approach one or two banks they already have a relationship with, hit one bank's specific criteria limit, and assume the wider market will respond similarly. In our experience, the variation between private banks on the same case is wide enough that comparing three or four routes nearly always changes the outcome.
Going direct to a private bank works when you are already a client with substantial AUM 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 preferential pricing against the AUM you hold, and treats the mortgage as part of the relationship rather than a standalone product.
Going through Fox Davidson works when you want to compare across the active private bank market, your case has any element a single bank may struggle with (offshore structure, low declared income against high net worth, foreign currency wealth, business sale mid-process), or you want the option to lend dry without AUM transfer and need to find the lenders who offer it. Our broker fee is a flat £495 payable on application. We hold direct underwriter relationships at the principal private banks and can pre-approve the 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 already at the bank. The case where a broker adds most value is the case requiring comparison across multiple banks, dry lending negotiation, or structural complexity that a single bank's criteria does not fit cleanly.
Run the numbers
Before you approach a private bank, model the High net worth qualification position and the stamp duty cost so you know which route applies and the all-in price including any non-resident surcharges.
HNW Mortgage Qualification Calculator
the FCA high net worth definition test. £300,000 income or £3,000,000 net assets. Applied as UK private banks read the rule in practice. Primary residence equity and pension included.
Open CalculatorUK Stamp Duty Calculator
SDLT, LBTT and LTT for residential, additional dwelling, non-UK resident and corporate purchases.
Open CalculatorSpeak to a private bank mortgage specialist
Contact Fox Davidson for a confidential private bank mortgage consultation. We arrange specialist funding from £1 million to £50 million plus across UK, European and American private banks for HNW individuals, non-UK residents, business owners and asset-rich borrowers.
Why a specialist private bank broker matters
Private bank lending is a relationship business at every level. The lender list matters more than the rate. The credit committee's appetite on the day matters more than the published criteria. The personal banker who champions the case matters more than the brand on the door. That is what we navigate. Borrowers who approach two banks and accept the first acceptable answer typically pay 30 to 100 basis points more across the fix than borrowers who compare four routes and choose the structurally best fit.
Indicative rates and lending metrics. Rates and criteria vary by lender, scheme type, loan size, AUM commitment and borrower profile. Wealth management fees on transferred assets must be netted against any rate saving the AUM transfer enables. Speak to us for figures specific to your case.
Frequently Asked Questions
What is the minimum loan size for a UK private bank mortgage?
Most UK private banks set a minimum mortgage size between £500,000 and £1 million, with £1 million being the most common floor in 2026. Some European banks operating in London have minimums of £2 million or £3 million. Below £1 million, the costs of relationship setup, wealth management fees and committee approval often outweigh the rate or flexibility advantages, and a specialist HNW lender is usually a better fit.
Do all private banks require asset transfer for a mortgage?
Most do, but not all. The typical expectation is 25% to 50% of the loan value as assets under management with the bank's wealth management arm. Some private banks offer relationship-only pricing without asset transfer, but the rate is usually 50 to 200 basis points higher. A few private banks (notably some boutique UK independents) lend dry without AUM transfer requirements as a deliberate market position. We identify which banks offer dry lending on each case.
What is the FCA high net worth rules and how does it apply to private bank lending?
the FCA high net worth rules is the FCA conduct-of-business rule that allows mortgage lending to high net worth individuals to operate outside the standard affordability assessment framework. It applies to borrowers with net assets of £3 million or more or annual income of £300,000 or more. Private banks use the FCA high net worth rules to assess affordability on a whole-of-wealth basis, lending against income, assets and liquidity rather than income multiples alone.
Are private bank mortgage rates lower than the high street?
Sometimes yes, sometimes no. Where the borrower brings substantial AUM and engages in a wider relationship, private bank rates can be 50 to 200 basis points below high street equivalent. Without AUM, private bank rates are often equal to or above high street pricing. The genuine economic comparison includes wealth management fees on transferred assets, not just the headline rate. We model the total cost across the fix on every case before recommending a route.
Can I get a private bank mortgage as a non-UK resident?
Yes. Most UK private banks lend to non-UK resident HNW individuals, particularly through their international or expatriate banking arms. The criteria are stricter on income source verification and KYC documentation. Multi-currency mortgage options are typically available, allowing the loan in GBP, EUR, USD or CHF based on the borrower's income currency. International private banks (J.P. Morgan PB, UBS, Lombard Odier, Julius Baer, Pictet) are usually the strongest route for non-resident HNW cases above £3m.
Do private banks lend on interest-only?
Yes, and interest-only is the more common structure. Most private bank residential mortgages run on interest-only at 65 to 90% LTV, with the capital repayment supported by the borrower's wider wealth: planned business sale, vesting equity, investment portfolio drawdown or property sale. Some private banks also offer dedicated retirement interest-only (RIO) products for older borrowers with sustainable income sources.
Can my business be used to support a private bank mortgage?
Yes. For owner-managed businesses with strong free cash flow, the business value enters the affordability calculation under the FCA high net worth definition. The bank typically wants accountant-confirmed business valuation, multi-year accounts showing profitability and growth, and where loan size justifies it, a non-binding indicative valuation from a corporate finance adviser. Some private banks will take business assets into account as part of the wider security for the residential mortgage.
How long does a private bank mortgage take to arrange?
Four to twelve weeks for clean cases, three to four months for complex cases involving multiple asset classes, offshore structures or large amounts requiring credit committee approval. The variation depends mostly on the depth of underwriting needed and the bank's internal credit committee scheduling. Cases that fit a private banker's existing delegated authority complete much faster than cases requiring escalation to committee.
What documents are required for a private bank mortgage?
Standard documentation includes three to five years of personal tax returns, three years of business or partnership accounts where applicable, full investment portfolio statements, evidence of liquid asset holdings, employment contracts and bonus structure documents, source-of-funds documentation and identification under standard KYC and AML processes. For non-UK residents, additional documentation around residency status and overseas income is needed. We coordinate the documentation pack with your accountant and solicitor directly.
Can I refinance from a high street mortgage to a private bank?
Yes. Refinancing is common where the borrower's wealth has grown to a level that makes private bank pricing or structure attractive. Where the new mortgage involves AUM transfer, the wealth management onboarding runs in parallel with the mortgage application. Total time from initial broker conversation to refinance completion is typically five to ten weeks. The decision turns on whether the new structure produces a better total economic outcome including wealth management fees and not just headline rate.
Do private banks lend on second homes and holiday properties?
Yes. Most private banks lend on residential second homes, country houses and holiday properties where the borrower meets the high net worth criteria and the property is in the bank's lending area, usually UK and selected European jurisdictions. LTVs are typically lower than primary residence (60 to 75%) and rates carry a small premium above primary. International private banks have broader country coverage for second-home lending in Europe.
What happens if I want to leave the private bank relationship later?
Most private bank mortgages run for fixed terms of two to five years, after which they revert to the bank's standard variable rate or can be remortgaged elsewhere. Exit is straightforward where the mortgage is the only product. Where a pledged portfolio or wealth management is also in place, exit involves coordinating multiple transitions. Early repayment charges typically apply during the fix period and decline annually. We model exit scenarios before placing the application so the long-term position is clear at the outset.