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Ipswich targets first-time buyers with range revamp

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Ipswich Building Society has made a number of changes to its product range to improve appeal to first-time buyers.

The maximum loan size on offer for standard 90 per cent and 95 per cent LTV products has been increased from £350,000 to £500,000.

It is also making all of its standard remortgage deals available to Help to Buy applicants at up to 95 per cent LTV.

The minimum loan size has been cut from £100,000 to £50,000 too.

Ipswich Building Society chief executive Richard Norrington says the changes have been made because of the mutual’s “commitment to seeing diversity in mortgage lending”.

He adds: “We are pleased that we can help borrowers moving away from a Help to Buy mortgage and through our expert manual underwriting we’ll continue to specialise in real mortgages for real people, who have unusual or complex occupations and find themselves categorised as ‘mortgage misfits’, otherwise ignored by other high-street lenders.”

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