At Weatherbys we take all of your assets into consideration.
Looking to purchase a new property?
Looking at the bigger picture for lending
Many professionals have a complex income structure. Your monthly salary may make up a small fraction of your total income, which is instead paid through bonuses or profit distribution.
While mainstream lending may not be designed to cater to these specific needs, our flexible approach to lending means that we can look at the bigger picture and take all your assets into consideration.
Using your assets to purchase a property
If you have received a bonus and are looking to purchase a larger property or invest in a buy-to-let, we can offer competitive rates to those looking to take advantage of our award-winning private banking service.
Furthermore, if you sign up to our Investment & Wealth Advice service we can offer even more attractive lending rates, reducing the cost of your new mortgage. Our financial planners will undertake a thorough review of your finances to ensure you have a cash flow plan that is structured to meet your needs, both now and in retirement.
Investments can go up and down in value and you may not get back the full amount originally invested.
Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured against it.
Borrowing money against your investment portfolio has its risks and is not suitable for everyone. If the market value of your pledged securities declines below required levels, you may be required to pay down your loan or pledge additional eligible securities in order to maintain it, or we may require the sale of some or all of your pledged securities. The sale of your pledged securities may cause you to suffer adverse tax consequences. We recommend you consult your independent financial adviser or your Weatherbys Investment Manager before applying for lending against an investment portfolio.
Our mortgages and loans are subject to underwriting and criteria. You must be 18 years or over to apply for a mortgage or other loan secured on your property. Terms and conditions apply.
Yes, you can. Many people whose bonuses make up a large part of their income want to take the opportunity to buy a bigger home or to invest in an additional property such as a holiday home.
Many mainstream lenders are unlikely to be able to help. They will often have fixed criteria on how much they will lend to individuals. They may not take bonuses into account, and if they do, they may only consider a certain level of bonus, or average bonuses by looking at those awarded in previous years.
However, our tailored lending solutions offer a more pragmatic and flexible approach, looking at all aspects of your financial life.
Probably more than you think. Rather than relying on the rigidity of credit scoring, we look at the full picture of your finances to make a pragmatic and informed decision. This means we will often lend more than the usual income multiples used by mainstream lenders.
So, even if less than half of your annual income comes from your salary, we can help you finance your home or another property such as a buy-to-let investment by considering your total compensation, including your bonuses.
We believe this is a fairer reflection of your true financial circumstances and means you can potentially borrow more than you’d expect from a mainstream lender.
Yes, of course. With traditional mortgages, you repay the mortgage over a set term, typically 25 years. As a specialist lender, we are more flexible. We tailor repayment plans specific to your circumstances. We offer interest-only loans and overpayments.
For example, we can build in capital reductions into repayment plans that coincide with your bonuses, to take larger amounts off the mortgage at certain liquidity pinch points, rather than taking equal instalments over, say, 360 months.
Yes, and we consider tax implications too. Unlike residential mortgages, lenders consider rental income above your personal income although your financial situation needs to be sustainable. As such, Weatherbys assists many clients with finance so they can buy investment properties and second homes.
Crucially, we can also help you navigate the tax maze that is part and parcel of property investment – and find you the most efficient way to structure your finance whether it be for a rental property or holiday home.
To speak with one of our Private Banking team about your individual circumstances, simply complete the enquiry form.
About Weatherbys Private Bank
Providing unparalleled service through a hands-on approach with a focus on the traditional values of integrity, care, courtesy, accuracy and reliability, makes us an award-winning Private Bank.
Our private banking offering includes current accounts, online banking, deposits, lending, foreign exchange services and an investment and wealth advice.