Investec Bank has cut residential and buy-to-let tracker rates by up to 25 basis points, and scrapped early repayment charges for some products.
The lender has also added a new two-year tracker rate to both its residential and BTL ranges, which it says complements its lifetime tracker products.
Rates on the new two-year trackers start at 0.99% over Investec bank base rate, currently 4.50%, at 65% loan to value — with a two-year BTL tracker rate up to 70% LTV at 1.49%, over Investec bank base rate.
The business, which targets high-net-worth borrowers, has also removed early repayment charges on its entire tracker range for owner-occupier revolver and self-build cases.
It says: “This will ensure that clients have total flexibility if they select a tracker rate to maximise their financial planning opportunities.”
The bank’s mortgages are available on a multi-part basis – over fixed, tracker, interest-only, capital repayment and differing terms. Overpayments of up to 10% a year are also allowed on all fixed rates.
Investec Private Banking Business Development Manager Peter Izard says: “The number of high-net-worth individuals in the UK is growing, and we recognise that these clients have unique and often complex circumstances that require a specialist and bespoke approach.
“By simplifying and strengthening our mortgage proposition we have clearly positioned Investec as the ‘go to’ lender for high-net-worth borrowers.
“Our selective rate cuts in our tracker rates offer our clients extensive choice and flexibility to meet their complex lending needs.
“Our private bankers offer a bespoke underwriting service, together with no requirements for assets under management, Investec remains a leading provider of finance to the high-net-worth market.”
