Investec Bank is launching a new 60% LTV BTL mortgage aimed at high net worth (HNW) clients.
This mortgage, which follows a 70% LTV product already offered by Investec, is available on both tracker and fixed basis.
The product is available on either a two year or five year tracker basis, at 0.95% + IBBR and 1.48% + IBBR, respectively.
On a fixed basis, the mortgage is available at two, three, four and five year fixed periods.
The rates on these versions range from 4.87% to 5.03%.
Investec is launching these products off the back of in-house research that showed the majority of HNW mortgage brokers (81%) are optimistic about business growth over the next year.
In light of this, Peter Izard - head of intermediary business development at Investec Bank - said brokers wanted more flexible products given the likelihood of HNW clients to derive income from various sources.
“Investec is committed to understanding each client’s entire financial situation and can lend against more than just basic salary, including share and carry income in our lending decisions,” added Peter.
“Our commitment to clients extends beyond the speed of the initial lending decision, and our out of the ordinary levels of service ensure that our clients receive the long term support they require.
“The introduction of our new 60% LTV rate not only broadens the options available to brokers but also reflects our dedication to delivering tailored solutions that effectively meet their clients' growing needs.”
