Investec Private Banking has simplified its residential owner-occupier and buy-to-let mortgage ranges, and made rate reductions on its lifetime tracker and selected fixed rates.

The new product features the following highlights:

• Residential lifetime tracker rate reductions  up to 0.70 percentage points
• Fixed rate reductions up to 0.40 percentage points on up to 80% LTV
• No changes above 80% LTV
• Simplification of LTV bandings
• Buy-to-let tracker rate reductions of 0.81 percentage points
• Buy-to-let fixed rate reductions up to 0.50 percentage points

Mortgages are available on multi-part (fixed, tracker, interest only, capital repayment & differing terms). Overpayments of up to 10% per annum are also permitted on all fixed rates and are unlimited on tracker rates (early repayment charge may apply if loan is paid in full).

In addition, Investec Private Banking has removed all transactional fees (excluding external and arrangement fees). These include fees such as CHAPS, duplicate statement fees, security release fees and others.

Peter Izard (pictured), business development manager at Investec Private Banking, said: “By simplifying and strengthening our mortgage proposition we have clearly positioned Investec Private Banking as the ‘go to’ lender for high net worth borrowers.

“Our selective rate cuts in both variable and fixed rates offer our clients extensive choice and flexibility to meet their complex lending needs. Our private bankers offer a bespoke underwriting service, together with no requirements for assets under management, Investec Private Banking remains  a leading provider of finance to the high net worth market.”