It also launches a new five-year tracker product
Investec Bank has announced adjustments to its residential and buy-to-let tracker range, featuring rate reductions of up to 55 basis points (bps).
The lender also introduced a new five-year tracker product, complementing the existing suite of two-year and lifetime trackers.
Rates on the two-year tracker range will now start at 0.94% over Investec Bank base rate (IBBR), currently at 5.25%, for 65% loan-to-value (LTV) deals. A two-year BTL tracker rate is set at 1.39% over IBBR at 70% LTV.
For fixed rate options, rates start at 5.74% for a two-year deal and 5.57% for a five-year product at 65% LTV for residential cases. Buy-to-let mortgages feature rates of 6.19% for a two-year fix and 6.02% for a five-year option.
The range has no early repayment charges on its entire tracker range for owner occupier, revolver and self build cases, providing flexibility for customers who choose a tracker rate to maximise their financial planning opportunities.
“We are delighted to pass on reduced pricing over a selection of our product range,” said Peter Izard (pictured), head of intermediary business development at Investec Bank. “We look forward to assisting our intermediary partners and their clients in providing our wholly bespoke HNW mortgage offering.
“Our selective rate cuts in our tracker 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 remains a leading provider of finance to the high net worth market.”
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