The lender has also lowered the arrangement fee on self-build mortgages from 1.5% to 1%. Additionally, Investec has introduced a cap of £50,000 on the arrangement fee for owner-occupier products and £75,000 for self-build mortgages.
The changes are effective from 2 April.
Peter Izard, head of intermediary business development at Investec Bank, said: “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.”
At a recent event held by Investec, it found that mortgage brokers with HNW clients were mostly concerned about their client’s ability to use a diverse range of income, such as investment returns or bonuses, in affordability calculation.
Aldermore Insights with Jon Cooper: Edition 9 – Why lending strategy is becoming more central in buy to let
Sponsored by Aldermore
This was followed by the speed of financing, and then securing a sufficient loan-to-value (LTV) ratio.
Izard added: “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.”
