Investec Bank has reduced its mortgage fees for high net worth (HNW) clients to make costs more manageable.
Arrangement fees for residential mortgages have been cut from 1.00% to 0.50%, while self-build arrangement fees dropped from 1.50% to 1.00%.
The fees are now capped at £50,000 for owner-occupiers and £75,000 for self-builds.
Peter Izard (pictured), 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.”
Izard added: “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.”
He said: “By considering a broader range of assets in our mortgage decisions, we can help clients secure the funding they require.”
Adrian Anderson, marketing director at Anderson Harris, said: “I’m delighted to see Investec taking a customer-first approach by reducing its arrangement fees.
“Investec have listened to the broker community and has taken action by making its proposition more cost-effective.
“The reduction in the arrangement fee makes the upfront costs much more accessible and affordable, showing Investec’s commitment to continue to be a leading lender in the large loan sector.”
