Investec Bank, known for catering to high net worth individuals, has made a significant move in the mortgage market. The bank has announced a substantial reduction in its mortgage rates, with some rates being lowered by as much as 0.55%. This reduction applies to both their residential and buy-to-let tracker mortgage products, indicating a more favorable borrowing environment for their clients.

New and Improved Tracker Products

Adding to their impressive range of mortgage options, Investec has introduced a new five-year tracker mortgage. This new product is designed to complement their existing two-year and lifetime tracker mortgages, providing more choices for their clients. The introduction of this new product reflects Investec’s commitment to offering tailored solutions that meet the diverse needs of high net worth individuals.

Competitive Rates for Different Needs

Investec’s adjusted rates are now even more competitive. The two-year tracker mortgage rates start at just 0.94% over the Investec Bank Base Rate (IBBR), which currently stands at 5.25%, at a Loan-to-Value (LTV) ratio of 65%. For buy-to-let mortgages, the two-year tracker rate for up to 70% LTV is set at 1.39% over IBBR.

In terms of fixed rates, Investec is now offering them starting at 5.74% for a two-year term or 5.57% for a five-year term at 65% LTV for residential cases. For buy-to-let mortgages, the fixed rates are 6.19% for two years and 6.02% for five years.

Flexibility Without Penalty

One of the most attractive features of Investec’s mortgage range is the absence of early repayment charges on its entire tracker range. This applies to residential, revolver, and self-build cases, providing unprecedented flexibility for borrowers who might want to pay off their mortgages earlier than planned.

A Focus on Bespoke Solutions

Peter Izard, the head of intermediary business development at Investec Bank, emphasised the bank’s commitment to providing bespoke mortgage solutions. He expressed delight in being able to offer reduced pricing across a selection of their product range. Investec’s focus remains on assisting their intermediary partners and clients with tailored, high net worth mortgage offerings.

Izard highlighted that the selective rate cuts in their tracker rates offer extensive choice and flexibility, catering to the complex lending needs of their clients. With a bespoke underwriting service and no requirements for assets under management, Investec continues to solidify its position as a leading finance provider in the high net worth market.