Investec Specialist Private Bank has launched a new ‘£Million Plus’ mortgage offering targeted at high net worth professionals who accrue irregular income such as lump sum bonuses.

This new custom-made mortgage offering takes overall income and wealth into account rather than just the value of an individual’s property and their regular monthly income.

Investec’s £Million Plus mortgage is aimed at those with sustainable overall earnings in excess of £300,000 a year and an established personal net worth in excess of £3 million who are looking to borrow a minimum of £1 million. These individuals are typically purchasing properties worth in excess of £1.5 million, Investec says.

Jack Jones of Investec Specialist Private Bank said: “We expect our product to be particularly popular among City professionals