Additionally, Investec is reducing rates across its entire range of fixed-term residential and buy-to-let (BTL) mortgages, and many of its variable rate residential and buy-to-let (BTL) mortgages, with reductions of up to 0.62%.”

Following this cut, fixed rate residential mortgages now start from 4.57% for a two-year fix or 4.73% for five years at 60% LTV. For BTL mortgages, rates start from 5.31% for a two-year fix and 5.27% for five years with a 70% LTV.

The loans come with the flexibility of no early repayment charges (ERCs) on Investec’s entire residential tracker range for owner-occupier, revolver and self-build cases.

Commenting on the product changes Investec   head of intermediary business development Peter Izard said: “The interest rate environment has really improved for borrowers, and we’re pleased to be able to pass on reduced rates to our clients.

“We look forward to helping our brokers finance their clients’ property purchases with a range of bespoke mortgage offerings, tailored to high-net-worth clients. We understand that many have complex lending needs and have designed our products to take into account the client’s wider wealth profile, rather than just income.”