Revolving Mortgage

General information

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Image of a zebra

Before you take out an Investec Revolving Mortgage please take the time to read the information below.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Ready to discuss your mortgage options?

If you earn a minimum of £300,000 a year, have a net worth in excess of £3m and want an exceptional mortgage service that is designed to suit your individual needs, get in touch.

Tel: +44 (0)20 7597 4050

Investec Bank plc and its subsidiaries recognise and respect the privacy and data protection rights of individuals with regards to personal data. 

 

We may use your personal data to provide you with services you request from us, or to manage your accounts, make decisions, detect and prevent fraud, fulfil any contractual relationship with you, undertake analysis and assessment, ensure that we comply with legal and regulatory requirements and/or for other purposes where in our legitimate interests. 

 

For further details as to how Investec uses personal data, please refer to our Data Protection Notice

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What is a revolving mortgage?

The Investec Revolving Mortgage is a flexible facility secured against your primary residence. Unlike a traditional mortgage, it gives you the freedom to access the funds, up to an approved limit, as and when required.

Follow the links below to find out more:

 

 

 

Main features of your mortgage

Our mortgages are provided by Investec Bank plc, 30 Gresham Street, London EC2V 7QP and can be used to finance the purchase or refinance (including additional borrowing) of your main residence or a second home (such as a holiday home).

We require a first legal charge on the property which must be in the UK and owned by you.

We may require additional security from you depending on your circumstances. We will confirm our security requirements once we have assessed your mortgage application.

With an Investec revolving mortgage, you can redraw any amounts that are repaid under your loan, provided that the total amount drawn at any one time does not exceed the agreed loan limit.

Your mortgage will be granted on an interest-only basis, the maximum term of your mortgage is typically ten years, and your regular mortgage instalments will be payable on a monthly basis.

Where we provide you with an illustration, it will detail the amount of your mortgage instalments according to your specific mortgage needs.

 

 

 

Interest rate

Our interest rate will be a variable rate tracking Bank of England base rate. The interest rate will change in line with changes in the reference rate, but will not go below a minimum rate (called a “floor”).

 

 

 

Repayment options

Your mortgage will be interest-only meaning that your mortgage instalments throughout the term consist of interest only.

You will still owe the capital amount of the loan at the end of the mortgage term, and you must make your own arrangements to repay this capital amount in full.

 

 

 

Valuation requirements

The loan is subject to a satisfactory valuation of the property by valuers appointed by us. We will arrange the valuation report and you must meet the valuation fee before any mortgage offer is issued to you.

 

 

 

Currency

We only lend in GBP pounds sterling. We will, however, consider applications from clients receiving income or holding assets in currencies other than GBP pounds sterling.

We will also consider applications from clients who are not UK resident. For these purposes, we recognise all major world currencies. Please contact us for further details.

You should be aware that the equivalent value of the loan in your foreign currency could change, such that if the value of your foreign currency fell relative to GBP pounds sterling, then the equivalent value of your loan would increase.

In that event you may have difficulty affording your regular repayments and the overall cost of your loan could increase significantly.

 

 

 

Insurance

You must take out suitable buildings insurance covering the full reinstatement value of your property.

We may require you to take out other insurances as additional security for your mortgage, such as life insurance.

You do not have to take the insurance through Investec Bank plc.

 

 

 

Interest-only warning

interest-only basis, in full or in part, you will need to make separate arrangements to repay the capital amount of the loan which you will owe at the end of the mortgage term.

 

 

 

Missing payments

If you miss payments, we can inform credit reference agencies of this. This may affect your ability to apply for credit in future.

 

 

 

Cost of the loan to you, and possible further costs

The total cost of the loan to you includes:

  • An arrangement fee.
  • A CHAPS fee payable for the release of funds.
  • The Bank’s legal fees.
  • All valuation fees associated with the loan.
  • A security release fee payable when the security we hold is released.

Other costs which you may incur include:

  • Any fees you must pay to your adviser or broker in connection with the proposed loan.
  • Your own solicitor's costs connected with the mortgage.
  • Any other professional fees, such as quantity surveyor and architect fees, where appropriate.
  • Notary costs and costs connected with the appointment of an agent for receipt of notice or process in the UK, where you are not a UK resident.
Existing clients

If you already have a mortgage with Investec our team of dedicated private bankers can help with your enquiry.