Investec Bank has announced a range of reductions to its high-net-worth fixed rate residential and buy-to-let mortgage products.
The latest cuts follow reductions of up to 58bps across Investec's variable rate products earlier this month.
As part of the latest changes, two-year fixed rate residential products at 60% LTV now start from 4.25% and five-year fixes from 4.35%.
Buy-to-let two-year fixes have reduced to 4.65% and five-year rates now start from 4.75%.
Investec recently announced reductions of up to 58bps across selected variable rate mortgage products, as well as reductions in residential mortgage fees from 1.00% to 0.50% and a cap on arrangement fees for owner-occupiers.
As a result of these recent changes, residential mortgage arrangement fees have reduced from 1.00% to 0.50% and self-build arrangement fees from 1.50% to 1.00%.
Arrangement fees are now capped at £50,000 for owner-occupied and £75,000 for self-build.
Investec provides loans with flexible terms, including fixed and variable rates for two to five years. Repayment options include capital and interest, interest-only, and part-and-part, with terms extending up to 35 years. Investec considers clients' full financial profiles — not just salaries — allowing for up to 95% LTV in some cases.
For those looking to remortgage, Investec has tailored solutions for both buy-to-let and residential properties, and clients do not need to have an investment portfolio with the bank to apply.
Peter Izard (pictured), head of intermediary business development at Investec Bank, commented: “We are pleased to announce reductions to our fixed rate mortgage range, which follow recent cuts to our variable rate mortgage products and arrangement fees. We are constantly looking for ways to improve how we meet the needs of our brokers and clients. These improvements mean that we are now even more competitive across a wide range of products, with these reductions complementing our high levels of service, allowing us to deliver an out of the ordinary experience for both brokers and their clients.”
