Private bank Investec has introduced 60% loan-to-value (LTV) mortgages aimed at its high-net-worth (HNW) clientele.
The rates for Investec’s 60% LTV deals are 2.57% for a two-year fix, 4.54% for a three-year fix and 4.59% for a four-year fix. For a five-year fixed deal at 60% LTV, the pricing is 4.73%.
Its tracker options at the same tier are priced at 0.65% above Investec’s bank base rate for a two-year deal or 1.18% higher for a five-year deal. Its bank base rate is currently 5%.
Investec has also reduced rates across its fixed and variable rate residential and buy-to-let (BTL) mortgages by as much as 0.62%.
For its BTL mortgages, rates start at 5.31% for a two-year fix and 5.27% for a five-year fix at 70% LTV.
Peter Izard (pictured), head of intermediary business development at Investec Bank, said: “We’re delighted to introduce a new 60% LTV rate to our range, further widening the choices available to high-net-worth individuals in the UK who want to take advantage of the value that a lower-LTV mortgage offers them alongside the benefits of a personalised private banking relationship.”
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He added: “The interest rate environment has really improved for borrowers, and we’re pleased to be able to pass on reduced rates to our clients. We look forward to helping our brokers finance their clients’ property purchases with a range of bespoke mortgage offerings, tailored to high-net-worth clients.
“We understand that many have complex lending needs and have designed our products to take into account the client’s wider wealth profile, rather than just income.”
Earlier this year, Investec carried out a survey among HNW individuals, where it found that they were generally positive about the future of the UK housing market.
