Truxton Trust Private Banking clients are looking at options as it pertains to their personal residence or vacation home. Mortgage brokers and other banks work hard to sell the clients one of their mortgage “products,” pushing the clients into prescribed structures, which are expedient for the lender. Truxton Trust does not have a standard mortgage “product.” Each of our mortgages is designed only for the specific borrower. These clients get a mortgage that is flexible enough for every option they may pursue, truly fitted to meet their unique needs.
A Truxton Trust client has an exciting opportunity to invest with close friends in a private partnership. It is uncertain when and how much cash he will need to fulfill his commitment. This client will have liquidity going forward with bonuses and capital gains, but it is unlikely that these cash flows with line up with the cash requirements for this new investment. Truxton Trust was able to provide this client with a high-flexibility, cost-effective loan secured by marketable securities. He can now move forward without disrupting any of his other balance sheet arrangements.
Truxton Trust Private Banking clients may have an interest in a vacation property out of state. They put in what they consider to be an insultingly low bid to purchase the property, and their bid is accepted! The clients are unsure what they want to do with the new home and may need to sell other assets to concentrate more resources on their new purchase. In any case, they need a mortgage in a hurry. Truxton Trust appreciates their needs and fully understands their financial situation. The Truxton Trust mortgage structure gives them plenty of time to “put their house in order.”
A Truxton Trust client takes some pride in maintaining careful control of household expenses. Unfortunately, her children and her spouse are less fastidious. However, with Truxton Trust’s Mobile Banking app, she can transfer money to any other account at a moment’s notice. She can even draw down on her home equity line of credit. And the money is there instantly, not in a few hours or the next day. So, her son in college has car trouble and has no cash ‒ no problem. Her daughter needs to buy a new outfit with the cute shoes, and her debit card is rejected. Got it handled. And her husband is spending “a bit more than he thought” on an entertainment system. Well, okay … She may have some banking challenges, but, happily, not with Truxton Trust.
Truxton Trust clients have a few rental properties and other odd investments receiving checks from time to time at their home and office. These checks pile up until someone has a chance to drive to the bank. Occasionally, they even lose a check. At the suggestion of Truxton Trust personnel, these clients download the Xpress Deposit app onto their smartphones. Now they make deposits from their office or from the dining room table the moment the check is received with availability the same day. They train their assistant to make deposits via a flatbed scanner at the office. Their son gets a check from his summer job and makes a deposit from the dashboard of his car. Though we miss seeing them here at the bank, they are happy to reduce check clutter at home, get faster access to their funds and skip the extra trip to Belle Meade.