Investec Private Banking has cut its three and five-year fixed rates by up to 0.3 percentage points on its range of residential Investec Professional Mortgages (IPM).
The new rates are:
| LTV | Three-year fixed | Rate cut | Five-year fixed | Rate cut |
| 60% | 2.49% | 20bps | 2.79% | 30bps |
| 75% | 2.79% | 10bps | 2.99% | 20bps |
| 85% | 3.19% | 10bps | 3.49% | 20bps |
These rates are only applicable to applications received on or after 23/10/2015. These rates are not available for clients with existing mortgages or those who have started the application process.
The Investec Professional Mortgages range is designed for qualified professionals earning over £75,000 per annum wanting to borrow between £250,000 and £1million. Loans are available up to 85% loan-to-value (LTV) for purchase, remortgage or capital raising and every application is individually assessed by a private banker.
Peter Izard, business development manager at Investec Private Banking, said: “I’m sure these new lower fixed rates will be welcomed by both brokers and their professional clients. With 3-year fixes now starting at just 2.49% we’re anticipating a lot of interest.”