A new intermediary-only lender has just been launched into the market by specialist bank and asset manager, Investec.

The range of products from newly launched Investec Professional Mortgages will offer products exclusively through mortgage intermediaries – as part of a controlled launch through specialist distribution partners - and are aimed specifically at professionals such as accountants, architects, dentists and lawyers.

With rates starting from 3.19 per cent, the new product range has been launched at a time when even professionals on well above average incomes can sometimes struggle to quickly secure loans from existing high street lenders because their income does not fit a standard model.

The new range of mortgages are primarily for directors and partners of professional practices as well as senior executives, managers or business heads with significant influence over the strategic direction of their firm.

The products include residential and buy-to-let mortgages that allow professionals to borrow up to 80 per cent of the purchase price or valuation of the property, as well as first time buyer professional mortgages allowing loans of up to 85 per cent of the value.

The minimum income requirement is £50,000 for qualified professionals and £75,000 for business professionals; borrowers will be able to make overpayments when capable.

They are part of a wider range of specialist mortgages offered by Investec, including £Million Plus+ Mortgages, for individuals looking to borrow more than £1 million.

Commenting on the launch, Alex Hammond of Investec Specialist Bank, said: “This new range of mortgages is for qualified professionals and business professionals who require the certainty of a lender that is able to consider their individual circumstances and all aspects of their income when making a lending decision. Increasingly, those who would normally be regarded as well-paid are struggling to secure the loans necessary to purchase property because of the uncommon nature of their income.

“We have created this new range of mortgages to meet the specific requirements of professionals, who are often individuals with limited time to arrange a mortgage. We look for good reasons to lend to the right customers and ensure that professionals receive the level of service they expect.”

Ben Thompson, Managing Director of Legal & General Mortgage Club, added: “…fundamentally what we need right now is a more competitive market overall, where a more reasonable or appropriate attitude to lending risk is adopted.

“Investec Professional Mortgages brings a more tailored and considered approach to lending, and the launch brings some very welcome new competition to this market, giving more choice for a certain type of borrower. Lots of customers will be able to buy, move, invest and save money because of Investec's launch, and that is very welcome progress indeed."