Investec Private Banking has cut its mortgage rates by up to 0.6 basis points following the recent reduction of the Bank Base Rate by 0.25bps.
Lifetime tracker rates have also been cut by up to 0.25bps.
The new mortgage rates are as follows:
|LTV||3 Year Fixed||5 Year Fixed||Lifetime tracker|
|Up to 60%||2.14% (0.45bps cut)||2.39% (0.60bps cut)||2.09% + IBBR*|
|Up to 70%||2.39%||2.59%||2.24% + IBBR*|
|Up to 75%||2.49% (0.40bps cut)||2.69% (0.60bps cut)||2.49% + IBBR*|
|Up to 80%||2.79%||2.99%||2.74% + IBBR*|
|Up to 85%||2.89% (0.40bps cut)||3.09% (0.50bps cut)||2.99% + IBBR*|
The Investec variable rate is also reduced to 3.74%, with Investec Bank Base Rate (IBBR*) also reduced to 0.25%.
New lifetime tracker and fixed rates have also been added to the range at 70% and 80% LTV bands.
Investec Private Bank provides mortgages designed specifically for borrowers requiring between £250,000 and £10m, who have a minimum annual income of £300,000 and net assets of £3m or more.
Residential and buy-to-let loans are available for borrowers who are paid in a foreign currency and are also available on a part repayment and part interest-only basis.
Peter Izard (pictured), business development manager at Investec Private Banking, said: “We’re delighted to take this opportunity to make our mortgage offering even more competitive for borrowers seeking larger loans.
“All mortgages are individually underwritten and borrowers don’t need to have existing assets under management with Investec Private Bank.”