Investec Bank plc has introduced a new 60% loan-to-value (LTV) mortgage aimed at high-net-worth individuals.
Additionally, Investec is reducing rates across its entire range of fixed-term residential and buy-to-let (BTL) mortgages, and many of its variable rate residential and buy-to-let (BTL) mortgages, with reductions of up to 0.62%.”
Following this cut, the bank said its fixed rate residential mortgages now start from 4.57% for a 2-year fix or 4.73% for 5 years at 60% LTV. For BTL mortgages, rates start from 5.31% for a 2-year fix and 5.27% for 5 years for 70% LTV.
The loans come with the flexibility of no early repayment charges (ERCs) on Investec’s entire residential tracker range for owner-occupier, revolver and self-build cases.
Peter Izard, head of Intermediary Business Development at Investec Bank, said: “We’re delighted to introduce a new 60% LTV rate to our range, further widening the choices available to high-net-worth individuals in the UK who want to take advantage of the value that a lower LTV mortgage offers them alongside the benefits of a personalised private banking relationship.
“The interest rate environment has really improved for borrowers, and we’re pleased to be able to pass on reduced rates to our clients. We look forward to helping our brokers finance their clients’ property purchases with a range of bespoke mortgage offerings, tailored to high-net-worth clients. We understand that many have complex lending needs and have designed our products to take into account the client’s wider wealth profile, rather than just income.”
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