Investec Private Bank, which offers £1m plus loans, has seen mortgage lending soar by 45% over the past three months.
The bank says the top end of the mortgage market has many attractive, low risk opportunities, despite difficult conditions elsewhere.
Compared with the second quarter of 2007, Investec’s residential mortgage lending has increased by 45%.
Investec identifies a major increase in demand as mainstream lenders withdraw from the top end of the market.
Investec says it is able to manage risk well by focussing on the income and assets of a potential borrower, rather than the property they are buying.
“We have a strong and flexible proposition that is tailored to the individual needs of our clients,” explains Wayne Preston of Investec.
“This means that we are particularly well suited to the more complex mortgage requirements of ultra high net income clients.”
However, among mainstream banks and building societies lending has plummeted by 64% over the past year as the credit crunch hits the UK.
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