The new products include lifetime trackers above the base rate by 2% to 60% LTV, 2.5% to 75% LTV and 3% to 85% LTV.
Investec Private Banking has consolidated its professional and million pound plus mortgage ranges and launched a selection of 3 and 5-year fixed rate products.
The new products are lifetime trackers above the base rate by 2% to 60% LTV, 2.5% to 75% LTV and 3% to 85% LTV, 3-year fixes at 2.59% to 60% LTV, 2.89% to 75% LTV and 3.29% to 85% LTV and finally 5-year fixes at 2.99% to 60% LTV, 3.29% to 75% LTV and 3.59% to 85% LTV.
Peter Izard, business development manager at Investec Private Banking (pictured), said: “By simplifying and strengthening our mortgage proposition we have clearly positioned Investec as the ‘go to’ lender for high net worth borrowers.
“Our target market is borrowers with a minimum income of £300,000 with a net worth of approximately £3m. Applicants do not need to have assets held under management with Investec Private Banking and all loan applications are individually assessed by a dedicated private banker.”
To be eligible products require a minimum income of £300,000 including salary, bonus, vested stock and carried interest.
Loans are from £250,000 to £10m and come with a 1% arrangement fee.
Brokers can earn up to 0.5% in proc fees.
