Investec has added to its mortgage offering with the launch of new fixed-rate residential products and cuts to its existing range.
Borrowers can choose from new two-, four- and ten-year fixed rate products from 1.89 per cent at 60 per cent loan-to-value, or lifetime trackers starting from Investec bank base rate (currently 0.25 per cent) plus 1.84 per cent.
Peter Izard, business development manager at Investec Private Banking, said: “We believe there is a growing appetite for longer-term fixes, especially here in the capital, and we expect strong demand for this product.
“Our proposition is designed to appeal to high net worth borrowers, particularly those based in prime central London and the south east.”
Investec caters for borrowers with a minimum annual income of £300,000 and net assets of typically £3m or more.
Andrew Montlake, director at London-based Coreco Group, commented: “It is great to see a lender like Investec really getting to grips with the London market and giving borrowers more choice.
“This will undoubtedly assist those looking in the somewhat difficult property market, where prospective buyers are being hammered by Stamp Duty rises at the top end of the market.”
simon.allin@ft.com
