Plans change. Unexpected events happen. A millionaire on paper: asset rich but cash poor; having to consider selling assets at an inopportune time. It’s a scenario that comes up much more often than you might think, particularly for those who manage their finances carefully with a long-term perspective. In such a situation, you might reasonably feel you’re being punished for having taken an otherwise prudent approach!
This is where a private bank is well placed to offer assistance. Many can provide flexible, bespoke lending solutions that are secured against your investment or property holdings, creating liquidity and enabling you to reap the full benefit of your wealth. Taking such an approach, with you at the heart of the decision making, can also provide you with short-term access to capital without significantly affecting your long-term financial plans.
Private banks appreciate the various reasons behind the financing needs. You may need to free up cash at short notice, to cover an unexpected event. Or, you may be looking to purchase a new asset, either a physical one for your enjoyment or to further diversify your investments. While you may be asset rich, your investment portfolio might have experienced a significant increase in value and you do not want to have to pay a large capital gains tax bill in the current tax year. Or, it could be that your investment assets consist mainly of property that you don’t want to sell due to current market conditions.
Regardless of the reason, a challenge that often faces prospective borrowers is the need to realise cash quickly. Here, using a provider with experienced bankers who can make swift decisions, allied to having well-established relationships with key service providers (such as surveyors, solicitors and valuers), will greatly increase the likelihood of obtaining a quick, yet carefully considered, decision.
A versatile and pragmatic approach can also help in a variety of other situations or requirements. For example, we often provide loan facilities to our clients’ children (and grandchildren), helping them join – or climb – the property ladder and giving them financial responsibility. Where the prospective borrower might be unable to obtain a mortgage in their own right, we can consider guarantor-backed facilities, releasing the guarantor when the borrower is fully self-sufficient.
In addition to property lending, our clients can also borrow against investment portfolios that we hold in custody. This can be a swift and flexible way to meet a short-term need for cash, without having to sell off assets. Such facilities can also be used to diversify or to gear up an investment portfolio.
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Our flexible lending facilities can be arranged in Sterling, Euro or US Dollars, although any property used as security must be UK, Isle of Man or Channel Island-based.
To find out more about Nedbank Private Wealth’s bespoke lending services, please contact your private banker directly or our client services team using the links to the form below, or simply call us on +44 (0)1624 645000.
Your home is at risk if you do not keep up repayments on a mortgage or any other loan secured against it.
If you are interested in becoming a client, please complete the form via the ‘become a client’ button below. Alternatively, if you are already a client, or if you have a question about how we help clients in particular circumstances, please use the ‘contact us’ button.
We will get back to you as soon as we can during office hours, which are Monday to Friday, 8am to 8pm (UK time), except for UK public holidays.
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