Investec Bank has announced the introduction of a new 60% loan-to-value (LTV) mortgage aimed at high-net-worth individuals.
In addition, Investec is reducing rates across its range of fixed-term residential mortgages and many of its variable rate and buy-to-let (BTL) residential mortgages, with reductions of up to 0.62. %.”
Following this reduction, fixed-rate residential mortgages now start from 4.57% for a two-year term or 4.73% for five years at an LTV of 60%. For BTL mortgages, rates start from 5.31% for a two-year term and 5.27% for five years with an LTV of 70%.
The loans come with the flexibility of no early repayment charges (ERCs) being applied to Investec’s entire range of residential trackers for owner-occupier, revolver and self-build cases.
Commenting on the product changes, Peter Izard, head of intermediary business development at Investec, said: “The interest rate environment for borrowers has improved significantly, and we are pleased to be able to pass on the reduced rates to our customers.
“We look forward to helping our brokers finance their clients’ property purchases with a range of bespoke mortgage offers tailored to high-net-worth clients. We understand that many have complex credit needs and have designed our products to take into account the customer’s broader wealth profile, rather than just income.”