Investec has lowered mortgages available to high-net-worth (HNW) borrowers for residential and buy-to-let (BTL) purposes.
Investec has adjusted its fixed and tracker rates by 0.2%, and the two-year fixed residential rates now start from 4.25% and BTL from 4.65%.
Its three- and four-year fixed rates have been lowered by 0.15%, starting from 4.3%, while five-year fixes have been cut by 0.05%, to start at 4.35%.
Its tracker rates have been reduced by 0.05% to begin at 0.75% above the base rate.
Investec said the changes came after the announcements in the Autumn Budget, which gave HNW borrowers the certainty they needed. It said now that tax policies had been made for the future, borrower hesitation had faded, and buyers could be encouraged back to the market.
Peter Izard (pictured), head of intermediary business development at Investec Bank, said: “We are pleased to announce our latest rate reductions, introduced at a time when clarity is returning to the market and clients are increasingly ready to take advantage of improved conditions.
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“These changes reflect our commitment to working closely with brokers, ensuring they have competitive pricing and the highest levels of support as their clients re-enter the market. Combined with our bespoke underwriting and speed of decision-making, these enhancements continue to deliver an out-of-the-ordinary experience for both brokers and their clients.”
Investec lends up to £10m on fixed and variable mortgage terms of 2-5 years, with capital repayment, interest-only and part and part options. Borrowers are assessed on their full financial profiles, not just salary, and Investec will lend up to 95% loan to value (LTV).