Investec Private Banking has simplified its residential owner-occupier and buy-to-let mortgage ranges and reduced rates on its lifetime tracker and some select fixed rates.
Residential lifetime tracker rate reductions are now up to 0.70% and fixed rate reductions up to 0.40% and it increased its loan-to-value to 80% LTV but no changes above 80% LTV were made.
Investec has simplified its LTV bandings and reduced its buy-to-let tracker rate by 0.81% and cut its buy-to-let fixed rate by up to 0.5%.
Peter Izard, business development manager at Investec Private Banking, said: “By simplifying and strengthening our mortgage proposition we have clearly positioned Investec Private Banking as the ‘go to’ lender for high net worth borrowers.
“Our selective rate cuts in both variable and fixed 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 Private Banking remains a leading provider of finance to the high net worth market.”
Mortgages are available on multi-part (fixed, tracker, interest-only, capital repayment & differing terms). Overpayments of up to 10% per annum are also permitted on all fixed-rates and are unlimited on tracker rates but an early repayment charge may apply if loan is paid in full.
At the same time Investec Private Banking has removed all transactional fees (excluding external and arrangement fees). These include fees such as CHAPS, duplicate statement fees, security release fees and others.