Subscribe to The Money StopNews Feed

Browse > Home / News, News-Mortgages / High income mortgage basket to become “more sophisticated”

High income mortgage basket to become “more sophisticated”

July 21, 2007 by admin  
Filed under News, News-Mortgages

Leave a Comment

The mortgage market for those on high incomes will become “more sophisticated” to match the increasingly varying ways that people earn money, a bank said today.

Private bank and mortgage lender Investec said that high-earning clients were increasingly seeking out more flexible and adjustable mortgages.

Indeed, so great has demand been that they have launched more personalised services such as multi-currency mortgages, limited to those who earn more than £150,000 per year and looking to borrow at least £500,000.

Spokesperson Wayne Preston commented: “Multi-currency mortgages aren’t for everybody…They need to understand markets. They need to understand interest rates… It’s really a more sophisticated type of individual or investor who understands that type of market.

“What clients are looking for is some alternatives in the market today”, he surmised.

Investec also revealed research which suggests that more than 100,000 Britons bring home over £200,000 each year.

Analysing Land Registry data, the bank also says that the number of £1 million homes increased by 48 per cent last year.

Tags: income, research, Spokesperson Wayne Preston, land registry, sophisticated type, Land, Britons bring home, money

Tags:

Related Entries

  • Property alternative investment to pensions
    • With many assets-rich Britons seeking out alternative investments to their pensions, industry experts yesterday suggested that property could be the way to go.Current government breakdowns of pensioners' income suggest that investment income stands at nine
  • Inflation ‘four times higher’ than official figures
    • The real rate of inflation is around four times what official figures say it is, according to a new survey. A poll by Fool.co.uk suggests that 93 per cent of people "feel" inflation as being
  • Mortgage fraud made possible with fake payslips from the Internet
    • Mortgage fraud is an issue that has been at the centre of a crackdown in the UK, with the difficult mortgage conditions that have been seen over the past couple of years resulting in a
  • Mortgages – Search Mortgages For A Cheap Quote
    • What are the main two types of mortgage available in the UK? The two main mortgage types available to consumers in the UK are known as the repayment mortgage (capital and interest mortgage) and the interest
  • Muffins and mp3 players to be included in inflation calculation
    • Muffins, mp3 players and fruit smoothies are to be included in the methodology for calculating future rates of inflation, the Office of National Statistics (ONS) has announced. The ONS has included the goods in its
  • Risk of default increased by lack of checks
    • According to a recent report released by the UK's financial regulatory body the risk of homeowners defaulting on their mortgage repayments has been increased as a result of various lenders allowing them to borrow money
  • Tips offered on mortgage protection
    • Don't borrow more than you can afford and seek independent advice before buying are just two of the mortgage protection tips offered by industry experts, LifeSearch. The guidance arrives as consumer confidence has been affected
  • Borrowers offered huge mortgage deals
    • Borrowers can now take out a mortgage of up to six times their salaries, according to recent reports.Mortgage lenders are now willing to splash out huge loans to allow desperate first-time buyers to get on

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!