Afin Bank has cut rates by up to 1.66% in its high-net-worth (HNW) mortgage range up to 75% loan to value (LTV).
Borrowers taking out a deal up to 65% LTV can now access two- and five-year fixed rates at 5.34% and 5.49% respectively.
A two-year tracker is also available at Bank of England base rate plus 1.58%.
Up to 70% LTV, two- and five-year fixes are now priced at 5.44% and 5.59% respectively, with a two-year tracker set at 1.63% above the base rate, giving it a variable pay rate of 5.38%.
Those needing a 75% LTV deal can access a two-year fixed rate of 5.59% and a five-year fixed rate of 5.63% or a two-year tracker priced at 1.73% above the base rate.
All mortgages have a product fee of £1,495 and are available for terms from two to 40 years.
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Borrowers eligible for a HNW deal with the bank are assessed based on the value of their net assets, including pensions, investments and property portfolios, as well as traditional earnings.
Tippie Malgwi (pictured), head of HNW and diaspora banking for Afin Bank, said: “These cuts make our [HNW] mortgage a competitive choice for complex cases where the borrower has significant net assets. And that doesn’t just mean ‘rich’ people – they could be a hardworking business owner who takes a modest income, but has invested their money in a pension or property.
“This kind of mortgage has usually only been available from private banks who also manage the customer’s wealth. Afin is different – our loans are individually underwritten and our lending decisions are based on a deep understanding of a customer’s complete financial circumstances, not just their income. We consider a borrower’s asset base and provide them with a discreet, personal service to help them get the mortgage they need.”