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Ipswich launches new self-build hub and cuts product rate

Ipswich Building Society has launched a new self-build mortgage hub for intermediaries and reduced rates on its two-year fixed product.

The hub is accessible through the society’s intermediary site. The new service will provide a library of self-build content, including a collection of guides, downloads, and a step-by-step process of how to submit a self-build mortgage case, according to the firm.

The lender has also reduced rates on the 75 per cent LTV two-year self-build fixed rate deal, taking it from 4.10 per cent to 3.99 per cent. This offer includes a £1,000 completion fee, £199 application fee, a £35 CHAPS fee, and tiered valuation fee based on the properties value.

Ipswich Building Society chief executive Richard Norrington says: “By hosting all of our self-build content on a centralised, accessible platform we have created an invaluable tool for brokers.

“Self-build is an increasingly popular market, with more people seeking to build from scratch or make large scale renovations to suit their family circumstances and requirements.

“One in 20 of the mortgages currently on our books is a self-build loan, with projects spanning across England and Wales.”

Head of mortgages Kate Ley adds: “With around one in five self-build cases coming in straight from intermediaries themselves we are keen to do more to directly support them with their self-build clients.”

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