Investec Private Banking has reduced fixed rates on its range of residential Professional Mortgages by up to 0.30%.

Investec’s three-year fixed rate to 60% LTV has been cut by 0.20% to 2.49%, while its five-year fix to 60% LTV falls by 0.30% to 2.79%.

The bank’s three-year fixes to 75% and 85% LTV have both been cut by 0.10%, and now charge 2.79% and 3.19% respectively.

Its five-year fixes to 75% and 85% LTV have both been cut by 0.20% to charge 2.99% and 3.49% respectively.

The Investec Professional Mortgages range is designed for qualified professionals earning over £75,000 a year wanting to borrow between £250,000 and £1million.

Loans are available up to 85% LTV for purchase, remortgage or capital raising and every application is individually assessed by a private banker.

Peter Izard, business development manager at Investec Private Banking, said: “I’m sure these new lower fixed rates will be welcomed by both brokers and their professional clients.

“With three-year fixes now starting at just 2.49% we’re anticipating a lot of interest.”