Investec Private Bank has announced cuts to a series of its fixed and tracker mortgages.
Reductions total up to 0.50 per cent, and all within the 80 per cent – 85 per cent owner-occupier category.
Specifically, the variable rate mortgage has been cut by 0.50 per cent, the three-year fixed rate product by 0.10 per cent, the four-year by 0.15 per cent, and the five-year fixed rate by 0.20 per cent.
Customers who wish to take out a mortgage with the private bank typically need to earn £300,000 or over and have a net worth of at least £3m.
Investec business development manager Peter Izard comments: “At Investec Private Bank we are aware that our high net worth clients have unique requirements and often have more complex lending needs than typical borrowers, we therefore pride ourselves on designing individual mortgages on a case by case basis.
“We are pleased to announce this reduction in both variable and fixed rates and hope it will enable our clients to have greater choice and flexibility.”