New mortgage club launches for HNW clients

Private Banker Finance has launched across the UK today, offering brokers and IFAs access to private banks for their high and ultra high net worth clients.

Private Banker Finance will launch its offering with its first mortgage club in April 2023 where its members will have access to a panel of more than 30 private banks and alternative funding houses.

Private Banker Finance offers a 100% no cross-sell guarantee for brokers, intermediaries and professionals and will always check that their introducing partners haven’t missed a lender who might be a better fit for the client via their sourcing system or panel of available lenders.

Targeted mainly at mortgage brokers, estate agents and other property professionals, Private Banker Finance primarily specialises in sourcing mortgages for £1m and over.

Co-founder, Rick Marshall, said: “This represents an area of the market that we have worked within for many years ourselves. However, there has never been an offering that either professionals or intermediaries could formerly partner with for their clients, who will work alongside them, as a team, to find a solution for that great client who, for any number of reasons, just doesn’t fit with the high street lenders despite their background wealth and assets.

“During our soft launch it became very apparent very quickly that clients who were looking to borrow £1m and above start to find their options limited quickly, this is commonly because their income streams and tax planning arrangements are complicated and incompatible with High Street lenders appetite and systems. There are plenty of options for those perfectly vanilla clients but for the individuals who slip through the criteria net via their sourcing systems, a broker or professional may not have anywhere to direct that client to find a solution. This is where Private Banker Finance will step in and work with that party to find the perfect solution via a private bank or alternate lender not usually available to the wider introducer/broker community.

“Private Banker Finance has a team of professional ex-private bankers and high net worth brokers who are here to assist with any queries or clients where a broker or introducer may not be able to find a suitable home. We have seen a fantastic start for our broker and professional partners so far by introducing them to the right private bank using our knowledge of this niche market."