Investec Bank has announced a range of reductions across its high-net-worth mortgage products.
The updates follow the recent Budget, which Investec says has delivered the policy certainty many high-net-worth borrowers were waiting for. With future tax measures now clearly outlined, much of the hesitation that delayed major property decisions has subsided, which may encourage buyers to return to the market.
Residential and buy-to-let rates have reduced by up to 0.20%.
Two-year fixed rates now start from 4.25% for residential and 4.65%, with three and four year fixes now starting from 4.30% and five-year fixes from 4.35%.
In addition, five-year tracker rates have reduced by 5bps, now from 0.75% + IBBR.
Investec offers a range of residential and buy-to-let mortgages tailored to the needs of high-net-worth individuals. It provides loans of up to £10 million with flexible structures, including fixed and variable rates from two to five years and repayment options ranging from capital and interest to interest-only and part-and-part. Clients are assessed on their full financial profiles, not salary alone, and lending is available up to 95% LTV.
Peter Izard, head of intermediary business development at Investec Bank, commented: “We are pleased to announce our latest rate reductions, introduced at a time when clarity is returning to the market and clients are increasingly ready to take advantage of improved conditions. These changes reflect our commitment to working closely with brokers, ensuring they have competitive pricing and the highest levels of support as their clients re-enter the market. Combined with our bespoke underwriting and speed of decision-making, these enhancements continue to deliver an out of the ordinary experience for both brokers and their clients.”
