View more on these topics

Ipswich unveils ‘low loan, low fee’ BTL products

landlord, BTL, words 

Ipswich Building Society has launched two buy-to-let low loan, low fee products.

The mortgages are aimed at buy-to-let borrowers looking to purchase or remortgage with a loan up to £150,000.

The two products offer the same fixed rates as the lender’s main range, but have a reduced completion fee.

Ipswich has brought in a buy-to-let two-year fixed rate at 2.95 per cent for purchase and remortgage up to 75 per cent LTV.

The lender is also bringing in a five-year fixed rate at 3.27 per cent for purchase and remortgage.

The maximum LTV for both loans is 75 per cent, the completion fee will be 0.5 per cent of the loan amount and there is a £199 application fee.

All products have a maximum loan size of £150,000 and a minimum loan size of £75,000.

Both also let borrowers repay without penalty up to 50 per cent of their original loan amount while in the fixed rate period.

Ipswich Building Society chief executive Richard Norrington says: “We are continuing to offer competitive products in the buy-to-let market and are pleased to expand our existing range with two new products that will provide new options to those seeking a low loan deal.

“The smaller fee size is a further benefit, which will make the products more attractive to a new variety of borrowers including those remortgaging from other lenders and wishing to take advantage of transitional arrangements”.

“By employing a manual approach to underwriting, we will be able to offer choice to creditworthy buy-to-let borrowers who may be finding it challenging to get on the property ladder.”

For residential and buy-to-let remortgage applicants, the Society offers fee assisted legals and a free valuation (up to maximum property value of £1m). The range is available to direct applicants in England and Wales, and via selected intermediary partners and all intermediaries based in the Suffolk heartland area.

Recommended

Ying-Tan-700.jpg

MT Finance and LendInvest join Buy to Let Club panel

Buy to Let Club has added MT Finance and LendInvest to its bridging panel. The club’s managing director, Ying Tan, says he is “certain that Buy to Let Club members will greatly appreciate the propositions offered by these two specialist lenders.” The panel expansion has been accompanied by the appointment of a new in-house bridging specialist, […]

House-Home-Property-Ladder-Mortgage-700x450.jpg

Accord Buy to Let launches new fixed rate range

Accord Buy To Let is launching a new fixed-rate range, with some five-year options from 2.99 per cent. The range includes free standard valuations on all loans and the choice of either standard legal fees or £300 cashback on completion. The new products include a 2.99 per cent five-year fixed rate mortgage at 60 per […]

Home-Houses-Different-Mortgage-Rent-700.jpg

Accord Buy to Let cuts rates by up to 0.20%

Accord Buy To Let has cut rates on selected two-year fixed rate mortgages by up to 0.20 per cent. The lender is offering lower rates on two-year fixes at 65 per cent and 75 per cent LTV loans, including fee-free options and added incentives. Remortgaging landlords can now get a two-year fix at 2.44 per […]

Your Views: Accord Buy to Let’s lending policy makes no sense to us at all

Accord Buy to Let’s lending policy makes no sense to us at all Most brokers are well aware that, despite excellent rates, Accord Buy to Let is not the easiest lender to deal with. However, in my opinion its service has plummeted to new depths. I had a client who earned well over £100,000 and […]

How to use wills to protect your clients’ wishes

By Ross Jackson, senior protection marketing manager March is Free Wills Month! Free Wills Month brings together a group of well-respected charities to offer members of the public aged 55 and over the opportunity to have their simple wills written or updated free of charge by using participating solicitors in selected locations around England and Wales. Research […]

Newsletter

News and expert analysis straight to your inbox

Sign up