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Ipswich launches new buy-to-let mortgage products

Ipswich Building Society has launched a new two-year fix rate buy-to-let product at 3.39% and a two-year discount at 3.44% for new purchases and remortgages at up to 75% loan-to-value.

The mortgages are available to those borrowing up to £500,000, subject to an application fee of £199 and a completion fee of £1,300, in addition to a standard valuation fee.

However, that valuation fee will be waived for buy-to-let landlords remortgaging a property worth up to £1m, while they will also receive assistance with their legal fees.

Richard Norrington, chief executive, Ipswich Building Society, commented: “We continue to provide choice in the marketplace for mortgage misfits and those who may not fit a ‘one size fits all’ assessment.

“By employing a manual approach to underwriting, with consideration of each application based on individual circumstances, this new initiative will help creditworthy buy-to-let borrowers who may be finding it hard to remortgage away from their existing lender.”

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