Investec Bank has announced a series of rate reductions across its high net worth mortgage range, marking its second move in recent weeks to sharpen pricing and improve value for clients.

Cuts of up to 58 basis points have been applied to selected variable-rate products, with both residential and buy-to-let mortgages affected.

TRACKER RATE TRIM

The latest reductions include a 30bps cut to two-year tracker products at 85% and 90% loan-to-value (LTV), while five-year residential trackers at the same LTVs have been lowered by 58bps. On the buy-to-let side, the bank has trimmed five-year tracker rates at 70% LTV by 42bps.

These changes follow Investec’s recent revision of residential mortgage fees, which saw standard arrangement charges halved from 1.00% to 0.50%, and the introduction of a cap on fees at £50,000 for owner-occupied and £75,000 for self-build mortgages. Fees on self-build loans were also reduced, dropping from 1.50% to 1.00%.

Peter Izard, head of intermediary business development at Investec Bank, said the changes are designed to reflect feedback from brokers and deliver enhanced value across its large loan offering.

“We are pleased to announce our latest reductions, which follow our recent cuts to residential mortgage fees and cap on arrangement fees,” he said.

“These changes demonstrate our commitment to listening to our brokers and continuously seeking ways to enhance our offerings. As a result of these reductions, we are now even more competitive in the market. These enhancements not only complement our high levels of service and speedy decision-making but also deliver an out of the ordinary experience for both brokers and their clients.”

Ian Gray, director at Gray Advisory, said the revised pricing structure strengthens Investec’s position as a ‘go-to’ lender for brokers working with high net worth clients.

“Investec’s recent reductions in fees and rates truly position them as a standout choice in the market for high net worth clients,” said Gray.

“Their proactive approach to listening to the broker community has resulted in a more competitive and cost-effective proposition, complemented by their speedy execution. With these enhancements, I believe that Investec should be the first port of call for brokers looking to provide exceptional value to their clients in the large loan sector.”