Investec offering fixed rate mortgages priced just over 4%
Quick Summary
Investec Private Bank has reduced rates on many of its mortgages for high-net-worth individuals earning over £300,000. The lender is keen to offer more £1 million+ mortgages with fixes starting from just over 4%.
Investec Bank has made a range of price reductions across its high-net-worth mortgage products.
Residential and buy-to-let (BTL) two-year fixed mortgage rates have been cut by 20 basis points, now starting from just over 4% for residential products and around 4.65% for buy-to-let (BTL).
Fixed rates on three- and four-year residential and BTL products have been reduced by 15bps to start from 4.30%.
Aaron Strutt, product director at Trinity Financial, says: "To qualify for an Investec mortgage, borrowers need to earn over £300,000 or have sufficient assets to meet the high-net-worth exemption rules. Investec is a good lender, offering competitive repayment terms for larger loans, often to bankers and business owners with smaller deposits or more complex income structures. Their rates are also very competitively priced at the moment, although they are a fair bit higher than those of high-street lenders offering £1 million+ mortgages. The rate you pay really depends on the complexity of your finances and the amount you want to borrow."
The bank has also lowered five-year fixed rates on residential and BTL products by 5bps, starting at 4.35%, and five-year tracker rates on residential and BTL by 5bps, starting at 0.75% + IBBR.
Investec says the rate reductions, particularly, help brokers, such as Trinity Financial, meet the needs of their clients with large or complex borrowing.
Investec Bank head of intermediary business development Peter Izard says: “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.
“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.”
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The information contained within was correct at the time of publication but is subject to change.
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