Banking for elite individuals

One group of people who frequently see the benefit in Private Banking are those who at a relatively young age have achieved significant personal success in areas such as sport, music or acting. Having incomes that are climbing steeply, but unpredictably, mean that many look for professional, experienced bankers to help them navigate the future in front of them.

One of our clients was a young sports professional with a contract which increased in value over the coming years. As well as helping him consider his banking arrangements overall, he also wanted a mortgage for his first home. He had spoken with a number of High Street banks who did not want to lend to him because of his lack of career history, the unusual nature of his profession, and the fact that while his income was projected to grow steeply, at its current level the borrowing looked at the limit of affordability. 

When he discussed the situation with his Private Banker at Hampden & Co, he was able to take future earnings, as detailed in his contract, into account, and so was able to provide a residential mortgage to help with the purchase.

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