The brokerage said that disapplying the standard mortgage rules for high net worth borrowers made perfect sense.
It believed that borrowers who are able to provide evidence, or in many cases deposit with the lender large amounts of assets and investments, should be shown more favourable lending terms than those individuals relying on income alone.
However Enness did believe the definition of high net worth as stated by the FSA was slightly high.
The MMR suggests that in relation to home finance, high net worth should be defined as a consumer with a gross income of no less than £1m per year or net assets of no less than £3m.
The brokerage wants the definition to be set more in line with the Consumer Credit Act where this is deemed to be an income of more than £150,000 per annum of income or £500k of net assets.
Hugh Wade-Jones, director of Enness Private Clients, said: “We are in full support of much of what the FSA is trying to achieve with the MMR, in particular its proposals to effectively allow high net worth customers an “opt-out” when it comes to its more stringent rules around affordability proof and utilising interest-only.
“Given the nature of many high net worth individuals’ income and assets we have to treat these separately.”
Wade-Jones added that Enness was not advocating lending to individuals without any income.
He said: “If we have someone whom, under normal mortgage rules, has a non-standard income yet can put down five years’ worth of mortgage payments on account on day one then we believe they should be viewed as an equally secure lending prospect as someone borrowing on the back of their income alone.
“The proposals for high net worth clients on interest-only also make perfect sense. The high-street lenders’ obsession with loans over £500k being on a capital and repayment basis has got out of hand and is a little confused.
“Individuals who fall into the high net worth bracket will often have non-standard income structures and as such they may not want to be forced to commit to large monthly payments particularly when they may have large amounts of investments or stock maturing in a few years’ time which will be used to clear some or all of the debt.
“All in all the proposals in this area would be welcome for the high net worth sector. It is our intention therefore to support this consultation paper and we look forward to the proposals being written into the final rules later in 2012.”
