Money management
As an award-winning wealth management provider with international presence across key financial centres, Nedbank Private Wealth is ideally positioned to support the financial needs of international clients.
Many of our clients require non-standard lending services that provide greater flexibility compared to standard lenders. If you are looking at options for international loans, our specialist lending team can guide you through the process but here is an overview to get a better understanding:
Initial consultation and financial assessment
The first step is to arrange the initial meeting where you will speak to one of our qualified advisers. During this discussion, we gather information to gain a full picture of your specific circumstances. This includes spending time to understand your objectives, income streams, risk profile and global asset position.
We look at your short-term and long-term financial goals, including considerations for tax efficient estate planning to protect your family’s future wealth.
Credit structuring across jurisdictions
Once we have gathered all of the necessary information, we can assess the most suitable lending options, including offshore lending through our offices in Jersey and the Isle of Man.
During this review process, we take currency considerations into account and identify lending opportunities that meet the different regulatory requirements depending on your residency status and locations of your assets. Many high-net-worth individuals benefit from offshore lending structures that provide currency flexibility.
Rather than basing loan affordability on income alone, we look at overall wealth and offer options to secure loans against property or investments. Our expertise in cross-border regulations and international ownership structures allows us to identify the most suitable and efficient lending structures.
Due diligence, compliance and documentation
As a regulated and authorised firm, Nedbank Private Wealth meets high regulatory standards and our international lending process includes steps to protect our clients from criminal activity.
These steps include conducting Know Your Customer (KYC) checks which involves requesting ID documentation to prove the client is who they say they are.
At this stage, we will ask for proof of ID such as a passport, driving licence or national identity card. Proof of address will also be requested, such as a bank statement, utility bill or council tax bill.
We also follow strict anti-money laundering requirements, such as obtaining evidence of wealth sources to check that money has been sourced legally. KYC and AML checks are required by our regulators to protect the financial system from criminal abuse. We are regularly audited to provide evidence that we have complied with our KYC and AML obligations.
Approval, offer and completion
Once we have received the documentation required for our due diligence processes, if a client meets our underwriting criteria and our credit analysis confirms that the client meets our requirements, we submit the proposal to the credit committee. The proposal will then be reviewed to ensure that we are satisfied with repayment capacity and that the purpose of the loan is acceptable.
If the credit committee approves the loan, we then provide clients with the offer which includes the terms of the loan, detailing the repayment arrangement and interest rate. Our interest rates are calculated based on each specific case.
The client then reviews the terms and if they are happy with the loan offer, they accept the loan. We then make arrangements to transfer the money into the specified account, using the required currency, which takes a few days following the acceptance of the offer.
If you are securing a loan to purchase property, the end-to-end process of enquiry through to completion is typically faster than a traditional mortgage. Many clients are able to receive approval and complete the loan within a few days, depending on the cross-border complexity.
Ongoing relationship management and wealth integration
Our lending services are not a one-off solution, we integrate our lending with investment strategies to help our clients to grow their wealth. Through ongoing relationship management, we provide continued, bespoke support to clients to meet their financial objectives.
If your personal circumstances or priorities change, our relationship-led services and regular communications enable us to continually adapt wealth strategies to meet your unique needs.
Whether you are looking to expand your property portfolio for long-term returns, require funds to purchase a property to live in, or need finance for another type of reason, speak to our lending team to find out more about our flexible refinancing options.
