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Ipswich cuts BTL rates and charges; issues new later life mortgage

Ipswich Building Society has announced changes to its BTL fixed rate product range and introduced a new later life mortgage.

Specifically, the 80 per cent LTV five-year BTL product has been cut from 3.99 per cent to 3.75 per cent and had its completion fee reduced from £1,250 to £950.

Meanwhile, the expat 75 per cent five-year BTL product has had its rate chopped from 4.15 per cent to 3.99 per cent and its completion fee reduced from £1,499 to £999.

The new later life product is also a five-year fix, at 75 per cent LTV and coming in at 3.50 per cent and charging a completion fee of £500.

Earlier this month, the lender introduced three new 50 per cent LTV RIO products to its proposition.

On its newest announcement, Ipswich chief executive Richard Norrington says: “Landlords, including those based overseas, and older borrowers often have an unusual set of circumstances or changing lifestyles and incomes.

“Our manual underwriting approach, which sees real people making the decisions about affordability, allows us to assist borrowers who may otherwise be denied access by the automated approach deployed by some mortgage lenders.”



Ipswich releases new RIO products

Ipswich Building Society has released three new 50 per cent LTV RIO mortgage deals. The loans are available to applicants aged 55 and over, with no maximum age limit set. The products include a two-year product discounted at 2.74 per cent, leaving the initial rate at 3 per cent, a two-year fixed product at 3.25 […]


Ipswich launches new 95% “local” FTB range

Ipswich building society has announced the launch of two new 95 per cent LTV products for “local” first-time buyers. Called “Heartland exclusive”, the deal is only available to borrowers looking at property in Suffolk, Norfolk, Essex, Cambridgeshire, Hertfordshire, Bedfordshire and Buckinghamshire. Applicants may use gifted funds for the 5 per cent deposit, but without 12 […]

Ipswich BS appoints new non-executive director

Ipswich Building Society has appointed Fiona Ryder as a non-executive director. A Fellow of the Royal Society of Arts and an award-wining media executive, Ryder has over 25 years’ experience in a variety of sectors, having previously been the managing director of Mustard TV, Archant’s local TV station for Norwich and environs, as well as […]


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