How high-net-worth mortgage needs may change after the Autumn Budget

While the 2025 Autumn Budget has the potential to mildly increase UK inflation, Investec economists currently forecast the Bank Rate to trend towards 3% by the end of 2026. For many high-net-worth (HNW) individuals, this creates a nuanced mortgage environment: borrowing conditions may ease, but higher taxation and property market uncertainty could exert downward pressure on affordability, yields and mobility.

In this context, lenders and intermediary partners who support high-net-worth clients will need to think more holistically than ever. As we have consistently seen across the lending landscape, affordability cannot be assessed through a simple salary multiple, and mortgage solutions cannot be generic. Instead, it is critical to take a comprehensive view of wealth, income patterns, liquidity, ownership structures and timing – a theme that remains central to Investec private bank’s approach. 

Below, I outline the key areas where we expect high-net-worth mortgage needs to evolve following the Autumn Budget, and how advisers can help clients navigate this period with confidence.

1. Holistic affordability assessments will become even more important

Increased taxation on dividends, investments and property-related income may reduce net cash flow for HNW borrowers. This means traditional affordability models may disadvantage those who rely on non-salaried income. 

Mainstream lenders often struggle to incorporate these variables. By contrast, specialist lenders can assess assets, investment portfolios, liquidity events and the overall trajectory of wealth creation. This approach avoids a tick-box exercise and creates a far more accurate picture of a client’s situation.  

In a post-Budget environment where finances may be under increased scrutiny, this depth of analysis becomes essential.

2. The impact of currency market volatility must be considered

With shifting monetary policy and market confidence shaping foreign exchange (FX) movements, clients whose income, bonuses or investment returns are paid in Euros or Dollars may have questions about how this affects borrowing.

FX volatility can materially influence affordability and risk exposure. Working with a lender able to understand – and underwrite – against multi-currency income is crucial. This has long been part of Investec’s expertise, particularly for HNW individuals in global industries such as finance, private equity and entrepreneurship, where cross-border earnings are common. 

3. Flexible liquidity solutions will be increasingly valuable

As the Budget could impact cash flow and yields, clients will look for structures that allow them to better manage liquidity and opportunity.

We expect growing demand for revolving mortgages which allow clients to draw down and repay funds as required; interest-only tranches which reduce monthly repayments; and remortgaging facilities which allow clients to unlock equity.

These structures give clients the flexibility to manage cash efficiently, which is particularly useful if time on market increases for those selling residential or commercial property. In such cases, refinancing existing assets may become an important conversation. 

4. More clients may explore tax-efficient ownership structures

With a 2% increase in tax rates for property-based income, property investors and landlords are likely to reassess the tax characteristics of their portfolios. For some, owning property through a limited company or Special Purpose Vehicle (SPV) may help optimise their financial position.

This makes it vital to work with lenders who can understand and underwrite against more complex holding structure; assess corporate income and or multi-asset balance sheets and provide lending that aligns with clients’ wealth-planning strategies.

High-net-worth borrowing has always involved considering of mortgage structures and liquidity, but post-Budget, this balance becomes even more central to finding an effective solution. 

5. A joined-up view of personal and investment needs will guide borrowing decisions

For many HNW individuals, borrowing is not just about buying a property – it is about ensuring their capital works efficiently across multiple priorities, including property purchases, investment opportunities and business ventures. The Budget may prompt some clients to diversify their investments or rebalance portfolios across asset classes to manage policy-driven risk.

In appropriate circumstances, a mortgage can create liquidity at the right moment. This requires a lender capable of understanding the broader picture of a client’s ambitions, risk appetite, and upcoming liquidity events.

In conclusion, personalised solutions will define the post-Budget lending landscape

Although interest rates are expected to fall over the next two years, the Autumn Budget has created new considerations for high-net-worth individuals – including property market dynamics and financial flexibility. 

In this environment, lenders and intermediary partners can work together to provide tailored mortgage support and help clients navigate a changing world. 

At Investec, we have long specialised in navigating the complexities of HNW borrowing. If you are supporting clients who may be reassessing their needs following the Budget, the Investec team stands ready to help you.

Important information: This media is for professional mortgage intermediaries only and is not intended for retail clients. It is for general information purposes only and does not constitute advice. Views expressed are the author’s and may not reflect those of Investec Bank plc.

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