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Ipswich BS reintroduces BTL range

Ipswich Building Society has relaunched its buy-to-let range, two months after deciding to withdraw its products to help it cope with a significant increase in mortgage applications from investors. 

The buy-to-let products, which include expat BTL and holiday let mortgages, feature a two-year discount rate at 2.99%, available at 80% loan-to-value (LTV), subject to a £1,149 product fee.

Expats will find that there is a two-year discount buy-to-let deal available at 2.99%, along with a five-year fix at 3.8% to 80% LTV.

Both products are offered with an application fee of £199 and a completion fee of £999

Ipswich has also launched holiday let mortgages at up to 80% LTV.

Richard Norrington, CEO at Ipswich Building Society, said: “We’ve been keeping a keen eye on the market and taken careful consideration over the appropriate time to re-enter.

“It is important we introduce and maintain a suitable range of products which enable us to uphold our service standards.

“We’re particularly pleased to be offering 85 per cent loan-to-value residential mortgage products as part of a stepped re-entry into the higher LTV market, with a view to returning to 90% lending in the future.

“We especially hope to be able to help first time buyers, many of whom have had their plans put on ice during the pandemic instead of realising their property-ownership dreams.”

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