Butterfield Mortgages Limited (BML) is a prime property mortgage provider that specialises in working with both domestic and international high net-worth (HNW) and ultra-high net-worth (UHNW) clients.
We deliver bespoke mortgages of £1 million and above for clients looking to purchase residential property in prime central London and the South of England.
Since our launch in 2017, BML has experienced tremendous growth. During 2017, our loan book grew from £290 million to £417 million. By the end of 2018, BML’s loan book had reached £617 million and we are now on track to surpass £750 million by the close of 2019―an impressive growth of 150% since inception. Our client base has also grown from 100 to 218, with current projections putting us on track for 250 clients before the year is out.
Our highly experienced relationship managers know how to lend to individuals with complex financial profiles. That’s what enables us to specialise in working exclusively with HNWs/UHNWs and their brokers to deliver mortgage solutions tailored to each client’s needs.
Crucially, we understand the difficulties HNWs face when looking to secure mortgages. Some may think the super-rich could easily secure a mortgage― this is often not the case. Due to their irregular sources of income and vast investment profiles, which typically span multiple asset classes and territories, many conventional lenders avoid dealing with the ultra-wealthy. But BML has the experience, resources and specialist knowledge to ensure we can provide loans to such clients.
BML’s clients can be confident that they are well positioned to reach their goals. Unlike many of our competitors, BML is a standalone provider with no requirement for assets under management or ancillary business; our sole focus is mortgages. Not only does this mean our clients do not need to worry about us trying to sell them other products or services, but it also ensures we can work quickly as we focus on our core proposition of HNW mortgages.
Another of BML’s strengths is that we stand as part of the Butterfield Group―a 160-year-old full-service bank and wealth manager headquartered in Bermuda and listed on the New York Stock Exchange. The Group provides services to clients in Bermuda, the Cayman Islands, Guernsey and Jersey, where it has principal banking operations. Specialised financial services are offered in the Bahamas, Switzerland, Singapore and the UK.
BML is the Group’s prime mortgage arm in the UK. We work with both domestic and overseas clients, with the latter showing significant interest in London property over the last year.
Underling our position as a leader in the specialist lending space, in 2019 BML and its CEO Alpa Bhakta have been published in the media more than 75 times, including articles in the likes of the Financial Times, City AM and Spear’s. We are proud to champion the cause of HNWs seeking prime property mortgages, and to educate clients about how to overcome the challenges they can face within the mortgage market.