Investec Bank has announced the introduction of a new 60% loan to value (LTV) mortgage aimed at high-net-worth (HNW) individuals.

In addition, Investec is reducing rates across its complete range of fixed-term residential and buy-to-let mortgages, and many of its variable rate residential and buy-to-let mortgages, with reductions of up to 0.62%.

Following this cut, fixed rate residential mortgages now start from 4.57% for a two-year fix or 4.73% for five years at 60% LTV.

For buy-to-let mortgages, rates start from 5.31% for a two-year fix and 5.27% for five years for 70% LTV.

There are no early repayment charges (ERCs) on Investec’s entire residential tracker range for owner-occupier, revolver and self-build cases.

Peter Izard, head of intermediary business development at Investec Bank, said: “We’re delighted to introduce a new 60% LTV rate to our range, further widening the choices available to high-net-worth individuals in the UK who want to take advantage of the value that a lower LTV mortgage offers them alongside the benefits of a personalised private banking relationship.

“The interest rate environment has really improved for borrowers, and we’re pleased to be able to pass on reduced rates to our clients. We look forward to helping our brokers finance their clients’ property purchases with a range of bespoke mortgage offerings, tailored to high-net-worth clients.

“We understand that many have complex lending needs and have designed our products to take into account the client’s wider wealth profile, rather than just income.”