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Ipswich BS introduces new buy-to-let and credit repair rates

The Ipswich Building Society has launched two new products to its buy-to-let range as well as added three products to its credit repair range.

The new buy-to-let range includes two new five-year fixed rate products, including a deal for expats seeking to purchase or remortgage a property in the UK.

The five-year fixed rate is available from 3.5% up to 80% loan-to-value (LTV) with a £1,250 completion fee, and the expat product is available at 4.15% up to 75% LTV with a £1,499 completion fee.

The changes to its credit repair range, accessible to borrowers with impaired credit, include the introduction of three fixed rate options for borrowers wishing to have more certainty over their mortgage payments.

The products, which are available for loans from £100,000 to £350,000, include a near prime two-year fixed rate at 3.5%, a feather prime two-year fixed rate at 3.75%, and a credit recovery three-year fixed rate at 4.5%.

Ipswich Building Society CEO, Richard Norrington, said: “We are excited to announce the launch of our new five year buy-to-let deals, and the introduction of fixed rate products for credit repair borrowers. These new deals have been implemented to support diversity in the mortgage market where there are limited options for borrowers who may not fit the requirements of some computer-based mortgage application processes, often employed by high-street lenders.

"We are confident that these enhancements to our mortgage range will boost our competitiveness and appeal to a wider range of customers.”

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