High end mortgages to become 'more sophisticated'
Published on : 18/07/2007
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The high-end mortgage market will become increasingly sophisticated as it adapts to match the complex way in which many people earn their money, it has been claimed.
Wayne Preston, spokesperson for the Investec Private Bank, says that high-end mortgage clients are looking for products that afford them flexibility with repayments.
Multi-currency mortgage offerings are also increasingly appearing on high-earning individuals' radars, he claims.
"We've seen, as our type of client becomes more sophisticated, and the nature of how they earn money becomes more and more complex, we see that this particular space is going to become even more sophisticated," Mr Preston commented.
And multi-currency offerings are proving popular among people with a strong knowledge of how currency and property markets work, he claims.
"What clients are looking for is some alternatives in the market today.
"We see with the UK base-rate increasing in the way it has that people are looking for alternatives and what the multi-currency offerings do is it gives you the ability to work off a lower base, as well as effectively use the currency market as a potential to reduce some of the capital over time," Mr Preston went on.
