Investec cuts fixed mortgage rates by up to 30bps for high-net-worth clients

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Investec Bank has announced further reductions across its mortgage range, cutting fixed rates by up to 30 basis points (bps) for high-net-worth clients.

The move follows recent reductions to its variable rate products and changes to arrangement fees.

For residential borrowers, 60% loan-to-value (LTV) fixed rates now start from 4.25% for a two-year fix and 4.35% for a five-year fix. In the buy-to-let sector, 60% LTV rates now start from 4.65% for two years and 4.75% for five years.

The changes come shortly after Investec reduced selected variable rates by up to 58 basis points and introduced cuts to arrangement fees. Residential mortgage arrangement fees have been halved from 1.00% to 0.50%, while self-build arrangement fees have fallen from 1.50% to 1.00%. A new cap on arrangement fees has also been introduced, set at £50,000 for owner-occupiers and £75,000 for self-build customers.

Peter Izard, head of intermediary business development at Investec Bank, said: “We are pleased to announce reductions to our fixed rate mortgage range, which follow recent cuts to our variable rate mortgage products and arrangement fees.

 “We are constantly looking for ways to improve how we meet the needs of our brokers and clients. These improvements mean that we are now even more competitive across a wide range of products, with these reductions complementing our high levels of service, allowing us to deliver an out of the ordinary experience for both brokers and their clients.”

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