New products aim to support brokers with high-net-worth property investors
Investec Bank has unveiled new 60% loan-to-value (LTV) buy-to-let mortgage products, targeting high-net-worth (HNW) clients.
Investec’s new buy-to-let mortgage offerings include rates for both 60% and 70% loan-to-value (LTV) products. For the 60% LTV range, the rates start at 0.95% plus the Investec Bank base rate (IBBR) for a two-year tracker, 1.48% plus IBBR for a five-year tracker, 4.87% for a two-year fixed, 4.84% for a three-year fixed, 4.89% for a four-year fixed, and 5.03% for a five-year fixed. The reversion rate for 60% LTV products is 2.62% plus IBBR.
For the 70% LTV range, rates begin at 1.39% plus IBBR for a two-year tracker, 1.92% plus IBBR for a five-year tracker, 5.31% for a two-year fixed, 5.23% for both three-year and four-year fixed products, and 5.27% for a five-year fixed. The reversion rate for the 70% LTV range is 3.08% plus IBBR.
The new products expand the lender’s buy-to-let offerings, which currently include a 70% LTV option. The announcement also follows the introduction of a 60% LTV residential mortgage product in September, accompanied by rate reductions of up to 0.62%.
The launch comes as Investec highlights a positive outlook among HNW mortgage brokers. In a recent survey conducted by the bank, 81% of brokers expressed optimism about their business prospects over the next year. Brokers cited the growing need for tailored financing solutions for clients with diverse, non-salaried income streams, such as investment returns and bonuses.
“The introduction of our new 60% LTV rate not only broadens the options available to brokers but also reflects our dedication to delivering tailored solutions that effectively meet their clients’ growing needs,” said Peter Izard (pictured), head of intermediary business development at Investec.
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