Investec Private Bank has announced the launch of a new 10-year BTL fixed rate mortgage.
The rate starts at 3.69 per cent and allows for an overpay of up to 10 per cent without attracting early repayment charges.
Customers who wish to take out a BTL mortgage with the bank typically need to earn £300,000 or over and have a net worth of at least £3m.
Investec Private Bank business development manager Peter Izard says: “Despite uncertainty in the buy-to-let market and the potential impact of Brexit, it continues to show resilience and the fundamentals remain compelling.
“In particular, we have seen high net worth clients looking past the tax changes while focusing on buy-to-let as an excellent underlying investment opportunity to provide positive returns for their portfolios.
“Our high net worth clients often have more complex lending needs than typical borrowers and may require a mortgage specifically designed for their unique requirements. Listening to our clients’ requirements, there was strong demand for a longer-term fixed product, particularly with future interest rate rises anticipated.”