The lender has also included a new two-year tracker rate to its residential and buy-to-let products
Investec Bank has cut residential and buy-to-let (BTL) tracker rates by up to 25bps, and removed early repayment charges for certain products.
The lender has also included a new two-year tracker rate to its residential as well as buy-to-let products, which Investec says complements its lifetime tracker products.
Rates on the new two-year trackers begin at 0.99 per cent over Investec bank base rate, presently 4.50 per cent, at 65 per cent loan to value (LTV) — with a two-year buy-to-let tracker rate up to 70 per cent loan to value at 1.49 per cent, over Investec bank base rate.
The lender, which targets high-net-worth (HNW) borrowers, has also scrapped early repayment charges on its entire tracker range for owner-occupier revolver and self-build cases.
Investec Bank states: This will make sure that clients have complete flexibility in case they choose a tracker rate to optimise their financial planning opportunities.
The lender’s mortgages are accessible on a multi-part basis – over fixed, tracker, interest-only, capital repayment and varying terms. Overpayments of up to 10 per cent annually are also permitted on all fixed rates.
Investec Private Banking Business Development Manager Peter Izard comments: The number of HNW individuals in the UK is rising, and we acknowledge that these clients have distinct and often complex situation that demand an expert and customised approach.
By simplifying and strengthening our mortgage proposition we have clearly placed Investec as the ‘go to’ lender for HNW borrowers.
Our discerning rate cuts in our tracker rates offer our clients immense options and flexibility to meet their complex lending requirements.
Our private bankers offer a customised underwriting service, along with no requirements for AUM, Investec continues to be a major provider of finance to the HNW market.