Coutts provides a consolidated private banking and wealth management advice service that caters for every aspect of our clients’ wealth, on both sides of the balance sheet. Please enquire if you are interested in exploring how this partnership can benefit you and your client.
Coutts wealth managers are accredited beyond the industry standard, ensuring exceptional advice and a sound understanding of our clients’ full objectives – and the solutions they need to achieve these.
Unrivalled expertise coupled with flexible banking solutions. Coutts Commercial specialists understand the industries our clients operate in, connecting clients and facilitating powerful introductions.
Coutts offers astute advice across a range of investment and portfolio services.
Coutts experts provide pragmatic advice on the aspects of wealth that go beyond the financial.
Our highly personalised and seamless service provides unique solutions for clients with unique needs. These case studies show some of the ways that Coutts can work closely with borrowers to secure property financing that meets their needs.
Only for use by mortgages intermediaries
Coutts helped an ultra-high net worth Saudi client add an extra floor to his UK family home.
The client has no income or assets in the UK apart from the property he was extending. He is therefore considered “high risk”, which meant a much higher level of due diligence and ‘know your client’ work was needed to ensure he could repay the loan. It can be very difficult for non-UK citizens to successfully access development finance in Britain. But not only does Coutts provide it, we are competitively priced in the market.
How Coutts helped
We requested and received a letter from PwC, which oversees the client’s finances, detailing his complete, consolidated income. Coming from such a well-known, respectable, London-based firm, this letter was considered sufficient evidence that the client would be able to meet the obligations of our loan.
Based on this, we issued a £7.3m loan with a loan-to-value ratio of 40%. Based on the size of the deal and the potential for further mandates from such a well-connected client, we were able to provide a competitive price for the borrower.
Looking ahead, we are now investigating how we can convert the loan into a cheaper, traditional mortgage to further benefit our client.
Coutts flexibility and range of benefits convinced a client to move money used for monthly mortgage payments from a competitor to a new account set up with the bank.
The client, who had already transferred $300,000 into the account, was attracted by the advantages of the Coutts Offset Select mortgage. They converted part of the tracker rate element to an offset tracker, which enabled them to reduce their monthly payments by deducting their deposits from their mortgage balance when calculating interest.
Our client, a lawyer who works for a top US firm, is paid in dollars and so also now benefits from the Coutts multi-currency debit card. Their US dollar income goes straight into their Coutts currency account, which means it stays in dollars but can still be used in the UK, and they can convert the cash when the exchange rate suits them. They also benefit from the fact that, using the offset mortgage, they can offset both sterling and US dollar deposits.
The mortgage is at a high loan-to-value and the deeds to the property are in the client’s wife’s name, but Coutts flexible, supportive approach was able to overcome such complexity and achieve the best deal for the couple.
AS WITH ALL CURRENCY TRANSACTIONS FLUCTUATIONS IN VALUES COULD RESULT IN HIGHER REPAYMENTS.
YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. OVER 18S ONLY. TERMS AND CONDITIONS APPLY.