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High Net Worth

• What is the Afin High-Net-Worth (HNW) mortgage?

  The Afin HNW mortgage product is a specialist mortgage product designed for clients that fit the high-net-worth criteria, with a large amount of wealth. These clients require bespoke affordability. At Afin Bank, we take a holistic overview of their wealth profile when assessing their borrowing needs.

• Who qualifies as a High-Net-Worth individual? What is the criteria?

  The definition of a HNW individual is a client with a minimum net income of £300k per annum or a client with minimum net assets of £3m. This definition applies on an individual basis, and cannot be shared between a couple.

• How does the Afin High-Net-Worth mortgage product work?

  The Afin HNW mortgage enables clients to use certain assets which can be used to support mortgage affordability. This is especially useful for asset-rich, income-light individuals who may otherwise be classed as unaffordable using traditional income-focused affordability assessments. A lack of an income is not a barrier to accessing an Afin HNW mortgage.

• What assets can be used for an Afin High-Net-Worth mortgage?

  The Afin HNW mortgage enables us to use a range of liquid and illiquid assets to support affordability. These assets include, but are not limited to: cash holdings, investment portfolios, pensions, real estate, private shareholdings, private equity or venture capital holdings, assets held in trusts, boats, cars, fine art, jewellery and luxury collectibles, etc.

• I have a combination of ISA investments and a property portfolio but no income. Can Afin Bank use multiple assets to support my mortgage?

  Yes, we can combine multiple asset types when using assets. Full evidence of the assets used will be required, including valuations. The absence of income does not prevent access to an Afin High-Net-Worth mortgage.

• I have an asset base of over £3M and I also have some income. Can Afin Bank combine the income and assets to support my mortgage?

  Yes, we can combine both income and assets. Our underwriting is bespoke to our clients’ individual circumstances and tailored to their unique wealth profile.

• I only need Afin Bank for the mortgage and intend to remain with my existing banking and investment providers. Is that acceptable?

  Yes, we are lending-only providers and have no requirement for your existing banking or investments to be moved to us. We can work with your existing financial providers to provide the required lending solutions.

• Does Afin Bank take a charge on any assets that are used as income for the HNW mortgage?

  No, we do not require a charge on any of the assets that are used as income. These assets are solely to support the affordability assessments and will not be used for security.

• I am a High-Net-Worth individual, but I only require a small mortgage. Is that acceptable? 

  Yes, the Afin HNW mortgage allows loan amounts from £250k up to £3.5m. These can be on interest-only or capital repayment options, with loan terms up to 40 years.

• Can the Afin High-Net-Worth mortgage be used for first-time buyers or remortgaging?

  The Afin HNW mortgage can be used for first-time buyers, remortgaging, or home movers.