Complex wealth, conservative lending

In a lending landscape increasingly divided between high street caution and off-high-street flexibility, clients with complex wealth profiles are feeling the strain. According to Nouran Moustafa, mortgage and financial adviser at Roxton Wealth, the industry must shift its focus away from just securing approvals and toward building sustainable, long-term financial outcomes.  

"We’re operating in a two-track market now," Moustafa said. "High street lenders want a clear pattern their algorithm understands. Anything outside that – entrepreneurs, family businesses, generational wealth – gets pushed off the street."  

Behavioural barriers to risk  

The rigid criteria of mainstream lenders are shaping not only who gets approved, but how people make career and life decisions. Moustafa sees behavioural economics at play: "Someone may want to leave their salaried marketing job and start a business, but the thought of remortgaging in six months stops them. They think, 'No one will understand my income.'"  

That fear, she argues, suppresses ambition and slows economic growth. "High achievers don’t launch ventures because they're afraid of being locked out of lending. And that’s a huge drag on innovation, job creation, and overall economic productivity."  

Yet blaming lenders, she said, misses the point. "Some cases are too risky. It's not about making banks the enemy, it's about restoring a common-sense balance."  

Where conservative lending fails  

The profiles that most often fall through the cracks include company directors and individuals involved in family businesses. "Unless you're an NHS consultant with a clean payslip, you're an outlier," Moustafa said. "Many directors don’t structure their income properly, or they play with numbers to save on tax. Lenders need clarity, and what they often get is confusion."  

The same applies to generational wealth. Someone working for their family's long-established construction business, Moustafa explains, might struggle to get a mortgage, while someone with three months of payslips from a fast food job is easily approved. In her view, the system often rewards simplicity over substance.  

There’s also danger in how conservative lenders treat seemingly strong borrowers. Moustafa often works with NHS consultants earning over £200,000 jointly. "They can be approved for a £1 million mortgage, but based on their financial behaviour, they shouldn't go over £600,000. Otherwise, they sacrifice the lifestyle they’ve built."  

Sustainability over status  

For Moustafa, a more holistic approach is essential. "The first thing I ask isn't 'How much do you earn?' It's 'What do you love doing? What can’t you live without?' Then we look at how to structure a mortgage that keeps those things intact."  

This behavioural-first method applies regardless of income. "High net worth doesn’t mean high financial literacy. I have the same conversation with someone buying a £70,000 house as I do with someone buying a £1 million one: what's your lifestyle, and how do we preserve it?"  

Moustafa warns that focusing purely on affordability metrics encourages dangerous over-lending. "Credit cards, car finance, and consumer lending are addictive. People lose track. If we don’t have that sustainability conversation, we’re setting them up to fail."  

The role of the adviser  

Moustafa urges advisers to take more responsibility. "We need to stop chasing the cheapest rate and start chasing the most suitable solution. That might mean going off-high-street, but only with clear communication." 

She favours lenders who offer consistent underwriting support and clarity upfront. "If I know the red flags in a case, I want to disclose them early. Don’t take us to full application only to reject us. That damages everyone."  

Ultimately, she sees her role as building not just mortgage approvals, but future-ready financial models. "Every off-high-street case I do comes with a sustainability plan. We ask: how do we improve your situation so you have more options next time?"  

"I’m not anti‑bank, and I’m not pro‑bank. I’m not anti‑client, and I’m not pro‑client. I am pro‑sustainability and common sense," Moustafa said.  

With behavioural economics shaping borrower decisions and conservative lending stifling flexibility, she believes it's time for a new model. One that doesn't just chase keys and approvals, but builds a future where mortgages fit people, not the other way around.