Barclays Private Bank

As a fundamental part of our long-term strategy, we launched Barclays Private Bank intermediary offering. Success hinged on having a deep understanding of the challenges that brokers and clients face in securing finance. As the bank that launched the first UK debit card, cash machine and more, we’re determined to challenge the status quo.

We spoke to brokers, family offices and high-net-worth (HNW) individuals. The message was loud and clear: they wanted a trusted relationship with access to expertise and an experience that makes the complex simple. We wanted to go beyond traditional banking, so we collaborated with a design agency to get a fresh perspective.

A one-size-fits-all approach doesn’t suit HNW individuals, so we introduced more tailored methods of assessing affordability and loan-to-income (LTI) criteria. This included increasing our LTI ratios, varying our stress rates, and allowing for flexibility in earnings evidence whilst maintaining some of the most competitive pricing in the market.  We’re unlocking tailoring for HNW clients, finding the perfect fit for their unique circumstances.

Despite the best preparation, nobody could have predicted what 2020 had in store. As stewards of our home market, we leaned in and supported the UK housing market – from UK clients to those overseas. We’re no stranger to working exclusively over the phone or online. To go further, we had to deliver an end-to-end service, offering certainty in testing times.

However, that’s no replacement for the human touch. Our ‘deal team’ philosophy surrounds you with experts in their field. We match you with specialists who understand your circumstances and cultural nuances. That could mean tapping into an industry expert in our Corporate Bank or an equity analyst in our Investment Bank.  Whether a senior corporate executive is looking to use investments to service debt, or an overseas entrepreneur using income from a complex business, we can help them rise.

Take, for example, a retired private equity partner who wanted to release value from his home to pursue his passions and diversify. We took the time to understand his complex circumstances, across borders and industries. Working with our deal team, the broker and client completed a £10m equity release. We helped him to adjust to the ‘new normal’, fitting around his demanding family schedule and different time zones.

Positive feedback from brokers demonstrates how we’ve listened and delivered on our commitment to set a high standard in this market. Whether it’s being “extremely impressed that we managed to pull the whole team together so quickly”, “our clients are thrilled,” or being recognised for “delivering on terms agreed during a pandemic”. We’re proud of the difference we’ve made so early on in our journey.

Who could have anticipated the importance of homes in 2020? It’s in houses across the country that most people have battled COVID-19, educated our children and worked to keep our companies and country going this year. Our mortgage specialists have recognised the significance of these priorities, supporting all in financing their homes in turbulent times, while managing our own.