Investec Bank has announced a range of cuts to its high net worth mortgage tracker rates, with reductions of up to 58bps for selected products.

Key changes include, for tracker mortgages: a two-year variable 85% and 90% LVT has beem reduced by 30bps; and five-year variable 85% and 90% LTV have been reduced by 58bps.

And for buy to let mortgages, Investec’s five-year variable 70% LTV has been reduced by 42bps.

As a result of these changes,  new fees apply. Residential mortgage arrangement fees have reduced from 1.00% to 0.50%.

Self-Build arrangement fees have reduced from 1.50% to 1.00%. And the arrangement fee cap has now been capped at £50,000 for owner-occupied, £75,000 for self-build.

Commenting on the product changes Investec head of intermediary business development  Peter Izard said: “These changes demonstrate our commitment to listening to our brokers and continuously seeking ways to enhance our offerings.”

Melton Building Society has also made changes to its residential mortgage product range.

The lender has introduced reductions of up to 0.29%, on products across their residential fixed rate range and has also extended end dates rolling on to July 2027 and June 2030 for two and five year products respectively.

Changes include, for 80% LTV, two year, residential, fixed, 4.49% (a reduction of 0.10%) no application fee and no  completion fee but including £500 cashback

Also, for 90% LTV, five year, resi, fixed, 4.74% (a reduction of 0.15%) with an £199 application fee but no completion fee, this also includes a £500 cashback.