Investec halves fees for HNW mortgages

Investec Bank has announced a series of enhancements to its mortgage offerings for high net worth (HNW) clients.

Residential mortgage arrangement fees have reduced from 1.00% to 0.50% and self-build arrangement fees have reduced from 1.50% to 1.00%.

In addition, arrangement fees are now capped at £50,000 for owner-occupied and £75,000 for self-build.

Investec's residential mortgage range provides loans of up to £10 million with flexible terms, including fixed and variable rates for two to five years. Repayment options include capital and interest, interest-only, and part and part, with terms up to 35 years. Investec considers clients' full financial profiles, not just salaries, allowing for up to 95% LTV in some cases. 

For those looking to remortgage, Investec has tailored solutions for both buy-to-let and residential properties, and clients do not need to have an investment portfolio with the bank to apply. 

At Investec's recent event with HNW mortgage brokers, the primary concern identified for these clients was the ability to utilise a diverse range of income, such as investment returns or bonuses, in affordability calculations. Speed of financing was the second priority, followed by securing a sufficiently high LTV ratio.

Peter Izard, head of intermediary business development at Investec Bank, commented: “We're committed to delivering an exceptional level of service to our clients through a bespoke approach to financing that’s tailored to their unique needs. We have listened to our brokers and, in response to their feedback, have reduced arrangement fees. This means that clients not only pay less to arrange their mortgages but also that those with larger loans will benefit from a fixed fee rather than paying a percentage. We pride ourselves on the quality and speed of execution, and these enhancements further demonstrate our ongoing commitment to providing an out of the ordinary experience for our clients.

“Brokers play a crucial role in navigating the complexities of high net worth lending. Our goal is to equip them with a range of products tailored to their clients' specific needs. By considering a broader range of assets in our mortgage decisions, we can help clients secure the funding they require.”