x
By using this website, you agree to our use of cookies to enhance your experience.

TODAY'S OTHER NEWS

Ipswich withdraws BTL products following high demand from applicants

Ipswich Building Society has withdrawn its five-year standard buy-to-let and five-year expat buy-to-let fixed rate products to “slow the inflow of applications”. 

While the five-year purchase and remortgage products have been withdrawn, the society will continue to offer its two-year fixed rate products.

Ipswich said it experienced a 40% increase in overall applications over the past seven days in comparison to the previous week.

Advertisement

Richard Norrington, CEO at Ipswich Building Society, commented: “In the current circumstances, we need time to process the applications that we have already received – a potential delayed response due to being over capacity would be of no help to the buyer, their intermediary or the property market as a whole.

“We continue to support the buy-to-let market with our two year fixed rate and discount products.”

Want to comment on this story? If so...if any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals on any basis, then the post may be deleted and the individual immediately banned from posting in future.

icon

Please login to comment

MovePal MovePal MovePal
sign up