Exploring the Wealth Market Opportunities for Mortgage Intermediaries
Delve into the world of lending in the wealth market with a focus on the 1m plus market, Coutts proposition, and business development support available specifically for mortgage intermediaries. Learn about the market trends, distribution insights, and the range of products offered. Discover the process from enquiry to mortgage offer, all designed to support mortgage intermediaries in navigating the wealth market effectively.
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Presentation Transcript
Lending in a Wealth Market Ralph Evans January 2023 Only for use by Mortgage Intermediaries
AGENDA Group overview: Our plans in the wealth market The 1m plus market Overview of the Coutts proposition 2
THE 1M PLUS MARKET 1m + lending represents around 4% of the market by value 9.7bn of completions in first 3 quarters of 2022 (Source: Bank of England) Distribution - Strong in London & South East, but still diverse Number of 1m-plus homes on the rise across England & Wales H1 2022 saw 79% of local authorities record a 1m plus sale (52% in 2012) (Estate Agency Today 2nd August 22) Sales of super-prime country houses (Guardian 30th December 22) outside of London hit 15-year high 3
Overview Only for use by Mortgage Intermediaries
THE COUTTS PROPOSITION October 2022 The mortgage intermediary now provides the advice All procuration fee s will be paid through the registered payment path with NatWest Team of 12 Private Bankers (Broker Bankers) dedicated to Intermediary lending Business Development Managers to support you 5
COUTTS BUSINESS DEVELOPMENT MANAGER Jasvinder Gihir Business Development Manager jasvinder.gihir@coutts.com 07795602528 6
THE COUTTS PROPOSITION October 2022 The mortgage intermediary now provides the advice All procuration fee s will be paid through NWIS via registered payment path Team of 12 Private Bankers (Broker Bankers) dedicated to Intermediary lending Business Development Managers to support you Range of products: Tracker, Fixed, Offset, Mortgage Reserve Account & Green Mortgages The process . 7
Direct to Private Banker or via your BDM. Enquiry received Mortgage enquiry form and financial information requested. Banker indicates appetite ESIS Produced Mortgage enquiry form and key documents sent. ESIS accepted by client Rate is provisionally reserved until credit approval within 10 days. Application submitted and val instructed The banker assigned to case, will be your point of contact. Mortgage Offer Client will be assigned a Private Banker who will manage their relationship with Coutts. Completion 8
LENDING OVERVIEW 1m loan size for residents & expats No minimum income Manual underwriting We don t require Assets Under Management - Dry Lend Areas of expertise: International, Entrepreneurs, Professionals, Financial Services/Executives and Sports Media/Entertainment UK properties only Higher LTVs 9
LENDING OVERVIEW Development finance High net worth lending Primary residence 75% LTV Involved from day 1 Using assets to assess lending Investment/Cash/Equity in UK property International Non vesting share Employed & self employed income Multiple businesses Assess income with 2/3 years track record 10
CERTIFIED B CORPORATION Certified B Corporations (B Corps) are businesses that are a force for good. They balance both purpose and profit. The "B" stands for benefit for all. B Corps are legally responsible for benefiting customers, workers, communities and the planet while delivering profit. Their long term aim is to build a more inclusive and sustainable economy. In July 2021, Coutts was the first UK Private Bank and Wealth Manager to become a Certified B Corp. What this means for our clients: Our B Corp certification means you can rely on us to give you exceptional levels of service and manage your wealth responsibly. But over and above this, it means when you choose Coutts, you choose to have a positive impact on society. Becoming a B Corp helps us continue to support our clients' sustainability plans and provide the reassurance that no matter their financial goals, they need not come at the expense of the planet. 11
Thank you Only for use by Mortgage Intermediaries
